Asian markets were trading lower, after US President Donald Trump announced a fresh set of Tariffs on China. The U.S. President Donald Trump said Thursday that the U.S. was putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1.
Asian stocks traded lower Friday morning after the surprise tariff announcement from the United States escalated trade tensions between Washington and Beijing.
The Nikkei 225 in Japan plunged 2.00% in morning trade as shares of index heavyweight and robot maker Fanuc plummeted more than 3%. The Topix index also fell 1.77%. In South Korea, the Kospi declined 1.06%.
Indian markets which have been hammered down badly, may see a fresh round of selling, after Thursday's session saw the lowest closing for the Indian markets since March. July 2019 was the worst July month in 17 years for the Indian markets.
The SGX Nifty was pointing at a cut of at least 75 points. Expect a very volatile session in trade today.