Stocks, oil prices plummeted after Trump's announcement to impose tariffs on China

Trump's statement led to a sharp decline in Asian stock markets.

In China, the composite indices of both Shanghai and Shenzhen exchanges fell over 4%. The Shenzhen Component Index plunged more than 5%.

China's yuan fell sharply against the dollar. In markets outside China, the yuan at one point fell more than 1% against the greenback, to 6.8011 yuan to 1 dollar. This is the lowest exchange rate of the yuan since the beginning of the year.

In the Hong Kong market, the Hang Seng index at one point fell nearly 3.5%.

Australia's ASX 200 index fell more than 1%.

At nearly 10 a.m. Vietnam time, the MSCI Asia-Pacific index (excluding Japan) fell nearly 2%.

The two markets of Japan and South Korea are closed for holidays on the first day of the week. However, Nikkei 225 index futures at one point fell by 1.8%.

US stock futures also signaled a sharp decline tonight. S&P 500 futures fell 1.7 percent at one point.

In Vietnam, at the end of the morning trading session at the beginning of the week, the stock market lost more than 13 points, pushing the VN Index to 961.10 points.

Along with stocks, world oil prices also fell sharply this morning in the face of the risk of the breakdown of US-China trade negotiations, which will lead to a decrease in energy demand.

WTI oil futures in the New York market at one point fell nearly 2.4%, to $60.44 per barrel. Brent oil futures in the London market at one point fell 1.8%, to $69.59 per barrel.

Thanh Thuy (t/h)

Source: trithucvn.net