The Latest: Asia and European shares sink as US tariffs take effect [Globe and Mail, The (Toronto, Canada)]
HON HAI PRECSON S/GDR NEW (HNHPF)
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Source: Globe and Mail, The
The Nikkei 225 lost 3.9% to 31,714.03. In Hong Kong, the Hang Seng lost 0.4% to 20,041.03, while the Shanghai Composite index reversed early losses, gaining 0.9%. to 3,173.56. Taiwan led losses in Asia, as its Taiex plunged 5.8%. China said it will take “resolute measures” to defend its trading rights, but gave no details on how it will respond to U.S. moves. On Tuesday, the S&P 500 dropped 1.6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February. The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war. The sharply higher tariffs kicked in as of midnight Eastern time in the U.S. More swings up and down for financial markets are excepted given the uncertainty over how long Trump will keep the stiff tariffs on imports, which will raise prices for U.S. shoppers and slow the economy. If they last a long time, economists and inv
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