Asian stock markets faced a sharp downturn following U.S. President Donald Trump’s decision to impose tariffs on China, Canada, and Mexico.
The move led to a rise in the U.S. dollar’s value, while Tokyo and Seoul stock markets plunged by over 2%. Markets in Sydney, Singapore, and Wellington also witnessed significant losses.
The Chinese yuan and Canadian dollar fell to record lows against the U.S. dollar, while the euro dropped to its lowest level in over two years. Even the Swiss franc, traditionally considered a stable currency, saw a decline in value.
