Europe and Asia markets slide after Trump threatens new tariffs on Chinese products

Source: The Washington Post



By Emily Rauhala
June 19 at 8:04 AM

BEIJING — European markets opened down and Asian ones dipped dramatically after President Trump threatened China with tariffs on $200 billion in products, renewing fears of an all-out trade war that could hit the global economy.

Stock markets across Asia fell Tuesday, with Shanghai closing down 3.78 percent, its biggest drop in two years, and Shenzhen down 5.31 percent. Hong Kong’s Hang Seng Index (HSI) closed down 2.76 percent, while Japan’s Nikkei lost 1.77 percent and Korea’s Kospi Index was down 1.54 percent.

Major European markets also opened down across the board; benchmarks in London, Paris and Frankfurt fell between 0.4 percent and 1.3 percent in early Tuesday trading.

“Asian countries that have close trade ties to China such as South Korea and Japan are bracing for side effects of the trade war,” said Park Jin-woo, a researcher at Seoul’s Center for Trade Studies at the Korea International Trade Association.

Read more: https://www.washingtonpost.com/world/asia_pacific/asia-markets-dip-after-trump-threatens-china-tariffs-on-200-billion-worth-of-products/2018/06/19/24987134-7390-11e8-be2f-d40578877b7b_story.html