Stocks plunge after China's retaliatory measures.

On the evening of April 9th, Vietnam time, global stock markets continued to plummet along with oil and the US dollar as US President Donald Trump's comprehensive tariffs on trading partners took effect, triggering strong retaliation from China.

An electronic display board shows the KOSPI stock index at Hana Bank in Seoul, South Korea, on April 3, 2025.

Mid-session trading on April 9th ​​saw sharp declines ranging from 3% to 4%. Specifically, as of 8 PM Vietnam time, economies facing a 20% tariff from the US, such as France and Germany, recorded declines in their main indices of 4.2% and 4.3% respectively.

Facing a 10% tax, the UK also saw its FTSE 100 index fall by 3.7%, to 7,615.53 points. Stock markets across Europe recorded declines of 3-6% during the trading session. Red dominated exchanges in Africa and the Middle East, although the drops were not as significant.

The decline in European stock markets accelerated after China announced retaliatory measures against US tariffs, with tariffs reaching up to 84%. The US market is also expected to experience significant volatility, with US stock futures falling by more than 100 points following Beijing's announcement late in the afternoon of April 9th ​​(Vietnam time).

Earlier, trading sessions in Asian markets also witnessed significant volatility, wiping billions of dollars off stock exchanges and severely impacting commodity markets and emerging markets.

On April 9th, Japan's Nikkei 225 and Topix indices fell by 3.93% and 3.4%, respectively. South Korea's Kospi index dropped 1.74%, losing more than 20% of its value from its peak in July 2024 and confirming it has entered a bear market.

Most Asian markets were in the red, with average declines exceeding 2%. Conversely, major Chinese indices recorded slight gains. Hong Kong's Hang Seng index rose 0.68%, while the Shanghai Composite index closed 1.31% higher.

The volatility isn't limited to the stock market; the US is also experiencing a massive sell-off in government bonds, adding further evidence that they are losing their status as a traditional safe haven. The sharp rise in 30-year US Treasury yields is driving up yields in the UK and Japan, with the yield on 30-year UK Treasury bonds reaching its highest level since May 1998.

The foreign exchange market was similarly disrupted as the yuan weakened to a record low against the greenback, while the South Korean won also hit its weakest level since 2009 during the global financial crisis.

At the same time, oil prices have fallen to their lowest level in four years, along with a sharp drop in metal prices.

TH (according to VNA)

Source: https://baohaiduong.vn/chung-khoan-lao-doc-sau-don-tra-dua-cua-trung-quoc-409066.html