Asia Pacific Stocks Slide on Tariff Fears
Asia Pacific stock markets fell as investors reacted to renewed U.S. tariff threats tied to President Donald Trump’s push for tariffs on several European countries over geopolitical tension linked to Greenland. Japan’s Nikkei 225 and South Korea’s Kospi both declined, reflecting a cautious mood in regional equities.
Wall Street Drop Hits Sentiment
Wall Street suffered a sharp sell-off, with major U.S. indexes such as the S&P 500 and Dow Jones posting significant losses after Trump said tariffs on European imports could start at 10 per cent and rise if agreements are not reached. This widened concerns about global trade tensions and pressured investor sentiment worldwide.
Safe-Haven Assets Rise
In response to market declines, investors sought refuge in safe-haven assets. Gold and silver prices hit record levels as risk appetite weakened and global equities struggled. Bond markets also reflected higher yields in some regions, adding to the risk-off environment.
Mixed Regional Performance
While most Asian markets weakened, data showed some pockets of stability in mainland China shares, even as broader sentiment remained subdued. The overall trend pointed to continued caution as traders evaluated the impact of trade policy uncertainty and geopolitical risks.
