Stock market today: Asian shares skid, hit by Trump tariff hikes and doubts about AI [Globe and Mail, The (Toronto, Canada)]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Globe and Mail, The
President Donald Trump's decision to push ahead with 25% tariffs on imports from Mexico and Canada and to double tariffs on Chinese products to 20% left investors reeling. Tokyo's Nikkei 225 index lost 2.9% to 37,155.50, pulled lower by plunging prices for shares in technology companies. Computer chip test equipment maker Advantest sank 8.8%, Disco Corp., another equipment maker, lost 10.3% and Tokyo Electron shed 4.5%. Hong Kong's Hang Seng index dropped 3.4% to 22,905.52, while the Shanghai Composite index lost 2% to 3,320.90. Trump said Thursday that “the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled” for imports from Canada and Mexico. China's Commerce Ministry issued a statement Friday protesting Trump's decision to raise tariffs on imports from China by 10%, saying it violated international trade rules and would add to the “burden on American companies and consumers and undermine the stability of the global indust
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