Market: Asian markets sigh after Wall Street falters; Bad situation in Japan, Korea and Australia

New Delhi| Markets around the world are trading under the shadow of fear and apprehension after the retaliatory tariffs imposed by US President Donald Trump. The American market is also faltering amid the sound of trade war. The American market Wall Street had seen a huge decline on Friday. After this, there was a huge fall in Japan’s stock benchmark on Monday.

Condition of Japan, Australia and Korea
Tokyo’s Nikkei 225 index fell nearly eight percent shortly after the market opened. Australia’s S&P/ASX 200 fell by more than six percent. Similarly, a decline of 4.4 percent was recorded in Kospi, South Korea.

The situation is worst in America
US futures showed signs of further weakness. Futures for the S&P 500 fell 4.2 percent, while the Dow Jones Industrial Average fell 3.5 percent. Nasdaq also recorded a decline of 5.3 per cent.

Worst performance after Covid
Earlier on Friday, Wall Street saw its worst performance since Covid. It held a new unwanted record of decline. The S&P 500 dropped 6 percent and Dow recorded a 5.5 percent drop. The Nasdaq Composite also fell 5.8 percent.

America on backfoot after China’s counterattack
The decline came after China hit back at a major increase in tariffs announced by President Donald Trump earlier this week and announced new tariffs on the US.