Massive plunge in Asian Stock market, Trump says 'You take medicine sometimes'
PTC News Desk: Asian stock markets witnessed a massive plunge on Monday after US President Donald Trump announced a new round of tariffs. The markets opened with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth.
Trump denied Sunday he was intentionally engineering a selloff and insisted he could not foresee market reactions, saying he would not make a deal with other countries unless trade deficits were solved.
"Sometimes you have to take medicine to fix something," he said.
The impact of Trump's tariff announcement was also visible in the American markets. Futures of the US stock index Dow Jones were down by 2.22 per cent, suggesting a negative start for the US markets as well.
Experts believe that the continued sell-off in global equity markets is due to the rising uncertainty caused by the tariffs. The new tariff measures have cast dark clouds over the global economic outlook. Major Asian economies, which depend heavily on exports to the U.S., are expected to be hit hard once the tariff implementation begins.
Investors are worried that global trade could slow down significantly, affecting corporate earnings and economic growth worldwide. The market reaction reflects growing concerns among investors about the future of international trade and the health of the global economy.
- With inputs from agencies
