Asian markets tumble as Trump's tariff war escalates
- Asian shares rose after President Donald Trump announced a one-month delay on tariffs for Mexico and Canada, leading to gains in major indices across Asia, including a 2.10% increase in the Hang Seng Index in Hong Kong.
- U.S. Stocks experienced losses, with the S&P 500 falling 0.8% and the Nasdaq Composite sinking 1.2%, despite a monthlong reprieve from tariffs for Mexico.
- Analysts noted that the markets were buoyed by the postponement of tariffs, which provided immediate relief and underscored Trump's willingness to negotiate, as stated by Yeap Jun Rong, a market strategist at IG.
- The White House confirmed that Trump would speak with Chinese President Xi Jinping, raising hopes for a potential deal to avoid a broader trade war.
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Total News Sources0
Leaning Left8Leaning Right4Center10Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
46% Center
L 36%
C 46%
R 18%
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