Global Markets Tumble Amid Tariff Tensions

Global stock markets experienced a significant drop following an escalation in tariff tensions instigated by U.S. President Donald Trump's latest trade policy. Japan's Nikkei 225 fell by nearly 8% as key indices in Australia and South Korea also reported substantial losses, continuing the trend seen on Wall Street.

Global markets plummeted on Monday in response to heightened trade tensions, sparked by U.S. President Donald Trump's recent tariff increases. Japan's Nikkei 225 index nosedived nearly 8% at the market's opening, echoing Friday's sharp declines on Wall Street.

Australia's S&P/ASX 200 and South Korea's Kospi also reacted negatively, falling more than 6% and 4.4% respectively. Meanwhile, U.S. futures indicated continued instability, with significant losses projected for the S&P 500, Dow Jones, and Nasdaq indexes.

Friday marked Wall Street's most severe downturn since the onset of the COVID-19 pandemic, as the S&P 500 dropped 6%, accompanied by substantial decreases across major U.S. indices. The downturn was exacerbated by China matching Trump's aggressive tariff measures announced earlier in the week.

(With inputs from agencies.)