"The deepening of the global stock sale caused by U.S. president Donald Trump's trade war and China's firm reaction to unexpectedly advanced duties" – so, in 1 opinion, CNN described what was happening worldwide. Trump just butchered the stock exchange.
The German Dax opened present with 9 percent negative, the London FTSE lost around 5. And European markets are mostly doing better than Asian markets at the beginning of the session. The nipponese Nikkei 225 index closed 7.9 percent on the downside, Sony itself dropped by more than 10 percent. It is equally bad in China (approximately 7 percent on the downside), the Hang Seng Index in Hong Kong flew down at 13.
Chinese technology giants Alibaba and Tencent fell by more than 14 percent and 10 percent respectively. The BBC called this day a "tight bath" of Asian stock exchanges. Taiwanese Taix closed Monday with a fall of 9.7 percent. The most crucial Taiwanese companies (TSMC and Foxconn) fell by about 10%.
Australia -4.2 percent, fresh Zealand -3.7 percent, South Korea -5.6 percent Samsung's shares fell by over 5%.
The declines were not all, there was besides a sharp increase in turnover, which analysts explained according to a mass sale and "full-sized panic". It is besides worth noting that on Friday the American stocks flew. This happened after China responded with fierce retaliation, imposing 34 percent duties on everything American.
Even gold is sold out. Traditionally, it was considered a comparatively safe financial investment. Since Thursday its value dropped by more than 4% to around $3030 per ounce.
Troubles are besides expected in the United States
No wonder. Since China has announced a 34% common duty, American stock will fall into a gap. We'll know the details later this afternoon erstwhile the U.S. indices start.
