Asia-Pacific markets extended their selloff Monday as fears over a global trade war sparked by U.S. President Donald Trump’s tariffs fueled a risk-off mood.
In Japan, the Nikkei 225 plummeted 2,644 points, or 7.8%, to 31,136.58. Earlier in the day, trading in Japanese futures was suspended due the market hitting circuit breakers.
In Hong Kong, the Hang Seng returned from a long weekend to tumble 3,021.51 points, or 12.2%, to 19,828.30.
Australian markets slid into correction territory with an 11% decline since their last high in February, in the previous session.
In other markets
In Shanghai, the CSI 300 dumped 272.06 points, or 7.1%, to 3,589.44, making this its largest one-day drop since last October.
Experts estimate that China and Vietnam will experience losses exceeding 0.5% of GDP, while the European Union and Japan face a hit of around 0.3% to 0.4% of GDP.
In Singapore, the Straits Times Index ditched 275.36 points, or 7.5%, to 3,540.50
In Korea, the Kospi folded 137.22 points, or 5.6%, to 2,328.20
In Taiwan, the Taiex faded 2,065.87 points, or 9.7%, to 19,232.35.
In New Zealand, the NZX 50 dropped 449.39 points, or 3.7%, to 11,775.88
In Australia, the ASX 200 wilted 324.59 points, or 4.2%, to 7,343.25.