Hong Kong, Taipei on Track for Historic Losses
Markets in Tokyo, Shanghai and Singapore are down more than 5%. Taipei's Taiex index is down 9.7%--which, if maintained, would be its worst one-day fall since 1990.
'The U.S. ignited a global trade war,' Phillip Securities Research's Paul Chew said in a commentary. 'The risk of recession is high. We worry Trump has kicked start a negative feedback loop of cautious consumers and businesses that will spend less.'
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