Beijing, April 9, 2025 – Asian stocks have slid in early moves, preparing for the impact of mammoth US tariffs coming into effect Wednesday.
A 104% tariff on China has rocked the international boat as markets remain uncertain while reacting to the news.
The sharply higher tariffs were scheduled to kick in after midnight Eastern time in the U.S., and investors have no idea what to make of President Donald Trump’s trade war.
The retreat overnight and into early Wednesday in Asia followed rallies for stocks globally earlier in the day, with indexes up 6% in Tokyo, 2.5% in Paris and 1.6% in Shanghai.
The Nikkei 225 in Tokyo fell more than 3.9% before leveling off. About an hour after the market opened it was down 3.5% at 31,847.40.
South Korea’s Kosp lost 1% to 2,315.27, while the S&P/ASX 200 in Australia declined 2% to 7,359.30.
Shares in New Zealand also fell. (AP)
