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Asian markets take a beating as Trump signals further escalation in his trade war with China

Asian markets take a beating as Trump signals further escalation in his trade war with China
REUTERS/China Daily



Asian markets are reeling from the latest escalation of the US-China trade war, after President Donald Trump tweeted he would further increase tariffs on Chinese goods.




All major indices in the regions, including Japan, China and Australia all lost more than 1% as a result.




Analyst Eleanor Creagh of Saxo Capital Markets believes the most recent escalation "increases the risk of a recession on top of what is now a synchronised global slowdown."




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Asian markets are reeling from an escalation in the US-China trade war over the weekend, with all major indices in the region closing down on Monday.
President Donald Trump indicated on Twitter on Friday that he would again retaliate by raising tariffs on Chinese goods, causing markets around the world to catch the fallout in the new week.
The Australia's ASX 200 was the first major index to be hit, falling 1.27%. It followed Japan's Nikkei 225 down 2.17%, and the Korean KOSPI down 1.49% as of 5:30 p.m. Sydney time.
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