Asian shares sink, with Japan’s Nikkei down 5.6% as China-US trade war escalates

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Asian shares sink, with Japan’s Nikkei down 5.6% as China-US trade war escalates

Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Thursday, April 10, 2025. (AP Photo/Richard Drew)

2025-04-11T01:13:15Z

                                       

Asian shares sank Friday in early trading after U.S. stocks surrendered a chunk of their         data-gtm-enhancement-style="LinkEnhancementA" href="https://apnews.com/article/stocks-markets-tariffs-trump-721a3a5971f1b254981d32f4acb9eb17">historic gains from the day before.

The deepening worries over President         data-gtm-enhancement-style="LinkEnhancementA" href="https://apnews.com/hub/donald-trump">Donald Trump’ s trade war helped pull Japan’s Nikkei 225 share index down 5.6%.

Shares also fell in South Korea and Australia in early trading Friday.

On Thursday, the S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to         data-gtm-enhancement-style="LinkEnhancementA" href="https://apnews.com/article/trump-tariffs-stock-market-china-recession-deals-e8e54a68397e6829e1d27552a1d7bfb9">pause many of his tariffs worldwide. The Dow Jones Industrial Average dropped 1,014 points, or 2.5%, and the Nasdaq composite tumbled 4.3%.

China announced more countermeasures against the United States and losses for U.S. stocks accelerated after the White House clarified that the United States will tax Chinese imports at 145%, not the 125% rate that Trump had written about in         data-gtm-enhancement-style="LinkEnhancementA" href="https://truthsocial.com/@realDonaldTrump/posts/114309144289505174" target="_blank" rel="noopener">his posting on Truth Social Wednesday, once other previously announced tariffs were included. The drop for the S&P 500 exceeded 6% at one point.

                                   
                               
                           

                           
                   
                   
                   

                   
                   

                   
                   
   



                   
   

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Source: Asian shares sink, with Japan’s Nikkei down 5.6% as China-US trade war escalates