Asian stocks tumble as U.S. tariffs fuel slowdown fears

Asian share markets tumbled on Monday amid concerns that broad and steep U.S. tariffs to be announced this week could affect trade-reliant emerging economies.

Asian share markets tumbled on Monday, driven by concerns that the broad and steep U.S. tariffs to be announced this week could affect trade-reliant emerging economies, many of which have huge trade surpluses with the United States.

MSCI’s broadest index of Asia-Pacific shares outside Japan shed nearly 2%, while a gauge of Asian emerging market equities also plunged 2% to its weakest point since early March.

Most equities in emerging Asian countries fell to multi-month lows on the final trading day of the quarter, although major markets in Southeast Asia — Indonesia, Malaysia and Singapore — were closed for public holidays.

South Korea’s KOSPI dropped 3% to an eight-week low, with the East Asian nation being the most vulnerable in Asia to the U.S. auto tariffs.

Taiwan, one of the “Dirty 15” economies running high trade surpluses with the U.S., is exposed due to its export of high-tech products such as semiconductors. Its benchmark index plunged 4%, while its dollar hovered near a nine-year low.

https://www.nbcnews.com/news/world/asian-stocks-tumble-us-tariffs-fuel-slowdown-fears-rcna198812

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