Overview
- Asian markets opened sharply lower on Monday, with the Nikkei down 6.47% and the Hang Seng falling 9.5%, reflecting escalating trade tensions.
- The U.S. and China have imposed reciprocal 34% tariffs, disrupting global trade and supply chains and heightening economic uncertainty.
- The U.S. stock market erased $6 trillion in market capitalization over two days, and further declines are expected this week.
- Oil prices have dropped below $60 per barrel for the first time since 2021, driven by fears of reduced global demand and recession risks.
- Analysts warn the trade war signals a systemic shift in the global economic order, dismantling established rules and increasing financial instability.