Hong Kong/London CNN —
Stock markets in Asia and Europe slumped Monday after Donald Trump slapped tariffs on Canada, Mexico and China, sparking fears over another bruising ‘America First’ trade war that could hit global economic growth.
US stocks were also set for a selloff, based on falls in stock futures.
“Trade war 2.0 begins,” UBS strategists wrote in a note Monday.
Japan’s Nikkei stock index closed 2.7% lower and South Korea’s KOSPI was 2.5% down at market close. Hong Kong’s Hang Seng was broadly flat.
The Shanghai index was closed
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