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Financial markets in Asia experienced significant selling on Monday due to fears of a severe economic downturn caused by President Trump’s new tariffs on imports, leading to volatile trading and steep stock declines in Japan, South Korea, and Australia. The escalation of retaliatory tariffs between China and the United States further fueled market uncertainty, with technology stocks across Asia taking a hit. The S&P 500 suffered its worst two-day drop since the 2020 pandemic, prompting warnings of a potential recession as companies brace for higher prices and production disruptions.
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