Global Markets:
- Asian Stock Markets : Nikkei down 6.94%, Shanghai Composite down 7.22%, Hang Seng down 12.53% ASX down 4.44%
- Commodities : Gold at $3047.35 (0.04%), Silver at $29.7 (-0.48%), Brent Oil at $63.65 (-2.95%), WTI Oil at $60.26 (-2.94%)
- Rates : US 10-year yield at 3.909, UK 10-year yield at 4.445, Germany 10-year yield at 2.5695
News & Data:
- (CAD) Unemployment Rate 6.7% to 6.7% expected
- (CAD) Employment Change -32.6k to 10.4k expected
- (USD) Non Farm employment change 228K to 137K expected
- (USD) Unemployment Rate 4.2% to 4.1% expected
Markets Update:
Asia-Pacific markets continued their sharp decline on Monday as global trade war fears intensified following U.S. President Donald Trump’s tariff announcements. Investor sentiment turned risk-averse, leading to a widespread sell-off. Hong Kong’s Hang Seng Index led regional losses with a steep 10.37% fall, while China’s CSI 300 dropped 6.31%. Japan’s Nikkei 225 shed 6.20%, hitting an 18-month low, and the broader Topix index plunged 6.50%. Trading in Japanese futures was temporarily halted after circuit breakers were triggered.
South Korea’s Kospi index dropped 4.74%, and the small-cap Kosdaq slipped 4.01%. Australia’s S&P/ASX 200 declined 3.87%, extending its losses to 11% since February and entering correction territory. In India, the Nifty 50 opened down 3.85%, while the BSE Sensex tumbled 5.29%. The sell-off across the region reflected deepening investor anxiety over the possibility of prolonged trade tensions derailing global growth.
Meanwhile, U.S. oil prices also fell sharply. West Texas Intermediate crude futures dropped more than 3% to $59.74 a barrel—marking the lowest level since April 2021. Hopes that the U.S. administration would negotiate lower tariff rates with trade partners faded, fueling further market pessimism. Despite growing concerns, senior U.S. economic officials downplayed the risks of inflation and recession, asserting that tariffs would remain regardless of market reactions.
On Wall Street, stocks saw a steep sell-off Friday after China imposed retaliatory tariffs. The Dow Jones Industrial Average plunged 2,231.07 points (5.5%) to 38,314.86, its biggest loss since June 2020. The S&P 500 dropped 5.97% to 5,074.08, while the Nasdaq Composite fell 5.8% to 15,587.79, officially entering bear market territory with a 22% drop from its December peak.
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