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Asian markets extend Wall Street sell off as Trump sparks trade war fears

Investors fear Trump's decision could spark retaliatory moves from major trade partners like China, Europe and neighbouring Canada in a blow to the global economy

Reuters  |  Tokyo 

Stock markets in Asia extended a selloff on Wall Street as investors were rattled after President Donald Trump announced the United States would impose hefty tariffs on steel and aluminium imports, raising the spectre of a global trade war. Early on Friday, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent while Japan's Nikkei tumbled 2.4 per cent. On Wall Street, the S&P 500 lost 36.16 points, or 1.33 per cent, to 2,677.67 on Thursday, coming a day after the investors sold off heavily on worries the Federal Reserve might increase rates more ...

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First Published: Fri, March 02 2018. 08:11 IST