Global stock markets slumped, the dollar strengthened, oil prices rose, with U.S. stock market futures down sharply Monday, after President Trump imposed tariffs on imports from key trading partners Mexico, Canada and China over the weekend.
Asian markets fell with Taiwan, South Korea and Japan performing the worst. The Nikkei Index in Japan fell by around 2.5, while Hong Kong’s Hang Seng dropped by 1.3% in early trading.
Trump imposed a 25% tax on most goods imported from Canada and Mexico, and an additional 10% on goods from China.
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