Major Asian stocks declined today, reacting to the US President Donald Trump’s announcement that he will double the tariff on steel imports from 25 percent to 50 percent to protect American industry, effective from Wednesday. Japan’s Nikkei dropped 1.3 per cent, Hong Kong’s Hang Seng index slid over half per cent, and Singapore’s Strait Times index slipped marginally by 0.1 per cent. South Korea’s Kospi index closed nearly flat. Meanwhile, market in China was shut for a holiday.
Meanwhile, major European indices were trading mixed during intraday trade. France’s CAC 40 decreased over 0.4 per cent, Germany’s DAX slipped over 0.2 per cent, while London’s FTSE 100 was trading nearly flat, when reports last came in.