The crash continues: downturn in Asian markets, declines in the US.

The crash on Wall Street continues today (Monday), as analysts point to a 4% drop at the opening of the trading week on the stock exchanges. Asian markets also plummeted today as a result of U.S. President Donald Trump's trade war and China's response to unexpected high tariffs.

In Japan, the stock market fell to a year-and-a-half low as bank shares dropped about 17% and in Hong Kong there was a 12.5% drop. The Japanese Nikkei index, which includes the top 225 stocks on the Tokyo Stock Exchange, fell more than 8% shortly after opening, while the broader Topix index was recently traded down more than 6.5% after recovering from its worst losses. In China, where markets reopened after a holiday, the Shanghai composite index was recently trading down 6.7%. The blue-chip CSI300 index lost 7.5%. In Hong Kong, the Hang Seng index opened down more than 9%.

The crash continues in Israel as the stock exchange opened this morning with sharp declines: the TA 90 index plunging by 3.4%, the TA 125 by 3.14% and the bank index dropping by 3.5%. In Europe, very significant drops were recorded: in Frankfurt, almost a 10% drop at the opening, in London a 6% drop.

Last night, President Trump commented on the world's reactions to tariffs: "I do want to solve the deficit problem we have with China, with the European Union, and with other countries. If they want to talk about it, I am open to talking." One of the reporters on Air Force 1 asked "Will there be a situation in the market that you are not willing to tolerate?", Trump angrily replied: "I think your question is so foolish. I do not want anything to go down, but sometimes you have to take medicine to fix something."

In addition, Trump posted on his social media where he referred to the storm: "We have huge financial deficits against China, the European Union, and many others. The only way to address the problem is through tariffs, which are now bringing tens of billions of dollars into the United States. They are already in effect. The surplus with these countries increased during the 'presidency' of sleepy Joe Biden. We are going to turn this around, and turn it around quickly. One day people will understand that tariffs, for the United States of America, are a very beautiful thing!."

Senior officials from various countries continue to warn about the effects of Trump's tariffs on the economy as it was reported that the governor of the Bank of Greece warned that the negative impact on growth in the euro area "could affect between 0.5 to 1 percent". South Korea's Trade Minister announced that he will deal with the reduction of tariffs from the United States and will meet with the US trade representative, Jameson Greer.

We remind that last Friday the Chinese government announced that it would impose a tariff of 34% on imports of goods from the United States starting this week. this is in response to Donald Trump's announcement he would impose identical tariffs on goods from China.