Tariffs: Asian markets recover amid tariff uproar, Japan’s Nikei 225 stock index rises five percent

New Delhi| A huge decline was seen in markets around the world on Monday amid the tariff war. However, on Tuesday the picture appeared to be changed and Asian markets saw a rise. Japan’s Nikei 225 stock index fell 8 percent the day before, but showed a 5.5 percent rise on Tuesday. There was a huge decline in Asian markets on Monday. Hong Kong shares fell 13.2%, the worst day since 1997 during the Asian financial crisis.

Stock markets around the world including America fell on Monday after President Trump announced the imposition of heavy tariffs on many countries of the world. The American stock market also crashed. On Tuesday, half an hour after the market opened in Tokyo, Japan, Nikei rose by 225 points to reach 32,819.08 points. Kospi in South Korea also grew by 2 percent. Markets in New Zealand and Australia also saw a rise.

The S&P 500 fell 0.2% on Monday. The Dow Jones Industrial Average dropped 349 points, or 0.9%, and the Nasdaq Composite posted a 0.1% gain. The day started with a huge decline in all three indices. This was followed by a drop of up to 1,700 points in Dow Jones, following declines in other parts of the world as well. However it later gained almost 900 points. Meanwhile, the S&P 500 went from a 4.7% drop to a 3.4% jump, its biggest in years gone by.

Amidst this uproar, US President Donald Trump shared a post on social media platform Truth, in which Trump wrote that if the 34 percent tariff that China has imposed on America is not removed in 24 hours, then a 50 percent tariff will be imposed on China. Due to this, there is no possibility of stopping the trade war between America and China and it is sure to have an impact on the global economy.