Stock Markets Drop Across Asia Amid New US Tariffs

Stock markets in Asia went down on Wednesday as the US prepared to apply new tariffs on specific countries, mainly targeting China. These new tariffs were scheduled to begin at midnight US time.

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Australia's S&P/ASX 200 dropped by 1.06%.
Japan’s Nikkei 225 fell by 3.14%, and the Topix index was down by 3.26%.
South Korea’s Kospi went slightly down by 0.18%, while the Kosdaq (small-cap index) dropped 0.44%.
Hong Kong’s Hang Seng Index dropped sharply by 3.86%, and the Hang Seng Tech Index fell even more by 5.42%.

These new tariffs are in addition to the 10% duty already applied on Saturday. Now, Chinese goods will face a total tariff of 104%, as confirmed by the White House.

Investors are also watching the Reserve Bank of India, which is expected to cut interest rates again today. Experts believe this would bring India's policy rate down to 6%.

Meanwhile, in the US, the stock market also fell.

• The Dow Jones dropped by 320 points, or 0.84%, closing at 37,645.59. Over four days, it has lost more than 4,500 points due to tariff concerns.

• Apple shares dropped as the company could face rising costs because of the China tariffs.

• The S&P 500 fell by 1.57% to 4,982.77, almost entering a bear market (a 20% drop from recent highs). This was the first time it closed below 5,000 since April 2024.

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