Global equity markets are continuing their selloffs that began in North American session on Friday after President Trump announced that his administration would respond with a 10 percent tariffs on Chinese goods worth $200 billion if China retaliates against the U.S. decision to impose 25 percent tariffs on $50 billion Chinese goods, of which tariffs on $34 billion goods would go live on July 6th. China announced equal response just after President Trump’s initial announcement.
After large-scale selloffs over the last two days, here is what the equity indices have done so far,
- Australia’s ASX200 is down -0.73 percent; trading at 6100 area.
- Japan’s Nikkei225 is down -1.8 percent; trading at 22280 area.
- China’s Shanghai Composite is down -3.4 percent after the extended holiday; trading at 2920 area.
- Hong Kong’s Hang Seng future for immediate delivery is down -2.8 percent; trading at 29430 area.
- India’s Nifty50 is down -0.62 percent; trading at 10730 area.
- European markets are not opened yet but futures indicating more than a percent selloff across the continent.
- North America is not open for trade but both S&P and NASDAQ futures are down more than 1 percent.
- Japanese safe-haven yen is up 0.5 percent despite a stronger dollar.