Summary

Asian stock markets suffered historic losses Monday as fallout from Trump’s sweeping new tariffs hit global markets.

The Hang Seng fell 13.2%, Japan’s Nikkei dropped 7.8%, and Taiwan’s index saw a record 9.7% plunge. Trump’s tariffs—ranging from 10% to 54%—target key exporters like China, Vietnam, and Japan.

Analysts warn of long-term damage, with Goldman Sachs raising U.S. recession odds to 45%. Asian economies, heavily reliant on U.S. exports, are especially vulnerable.