{"id":40288,"date":"2025-06-02T11:36:14","date_gmt":"2025-06-02T11:36:14","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/06\/02\/asian-markets-close-stocks-fall-on-trumps-steel-tariff-hike-sensex-ends-77-pts-down\/"},"modified":"2025-06-02T11:36:14","modified_gmt":"2025-06-02T11:36:14","slug":"asian-markets-close-stocks-fall-on-trumps-steel-tariff-hike-sensex-ends-77-pts-down","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/06\/02\/asian-markets-close-stocks-fall-on-trumps-steel-tariff-hike-sensex-ends-77-pts-down\/","title":{"rendered":"Asian markets close: stocks fall on Trump\u2019s steel tariff hike; Sensex ends 77 pts down"},"content":{"rendered":"
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A wave of apprehension swept through most Asia-Pacific financial markets on Monday, with major indices closing predominantly lower after US President Donald Trump announced a significant escalation in trade protectionism by declaring he would double tariffs on steel imports to 50%. <\/p>\n

This move, effective from Wednesday, reignited concerns about global trade stability and weighed heavily on investor sentiment across the region, including a subdued close for Indian benchmarks like the Sensex.<\/p>\n

The primary catalyst for the market downturn was President Trump’s declaration, made during remarks to US steelworkers at US Steel\u2019s Irvin Works in West Mifflin, Pennsylvania. <\/p>\n

“We\u2019re going to bring it from 25% to 50%, the tariffs on steel into the United States of America,” Trump stated, adding that these steep tariffs would “further secure the steel industry”. <\/p>\n

He later confirmed via a post on Truth Social that the new steel tariffs will commence on June 4. <\/p>\n

This aggressive stance on trade immediately cast a pall over markets reliant on international commerce.<\/p>\n

Regional market reaction: broad declines with few exceptions<\/h2>\n

The impact of Trump’s announcement was felt across Asian bourses.\u00a0<\/p>\n

Japan\u2019s benchmark Nikkei 225\u00a0fell sharply by 1.30% to close at 37,470.67, while the broader Topix index declined 0.87% to 2,777.29. <\/p>\n

In\u00a0South Korea, the Kospi\u00a0ended the trading day nearly flat at 2,698.97, showing some resilience.<\/p>\n

However, the small-cap Kosdaq managed to rise by 0.81% to 740.29, with investors also looking ahead to the country\u2019s presidential election scheduled for June 3.<\/p>\n

Australia\u2019s S&P\/ASX 200\u00a0slipped 0.24% to close at 8,414.1.\u00a0<\/p>\n

Hong Kong\u2019s Hang Seng index\u00a0also declined, dropping 1.2%. <\/p>\n

It’s worth noting that markets in China, Malaysia, and New Zealand were closed for public holidays, which may have thinned regional trading volumes.<\/p>\n

In economic news from Japan, factory activity contracted at its slowest pace in five months in May, offering a slight glimmer of improvement in the manufacturing sector. <\/p>\n

The final au Jibun Bank Japan manufacturing purchasing managers\u2019 index (PMI) rose to 49.4 in May from 48.7 in April. <\/p>\n

While this marked the 11th consecutive month the index remained below the 50-point threshold separating contraction from expansion, the uptick was seen as a tentative positive. <\/p>\n

“There were tentative signs of a potential improvement in the sector\u2019s performance over the coming year … staffing levels increased at the fastest pace in over a year,” commented Annabel Fiddes, economics associate director at S&P Global Market Intelligence.<\/p>\n

Indian markets: Sensex succumbs to global pressure<\/h2>\n

Indian equity benchmarks mirrored the broader regional caution. <\/p>\n

The\u00a0BSE Sensex\u00a0closed 77 points lower, while the Nifty 50 also dipped, finishing below the 24,700 mark. <\/p>\n

Earlier in the session, India\u2019s Nifty 50 was reported to be down 0.10%. <\/p>\n

One of the few notable gainers in an otherwise subdued Indian market was Adani Ports, which saw its shares rise by 2%.<\/p>\n

US market undercurrents: futures dip after strong May<\/h2>\n

The renewed trade concerns also impacted US stock futures, which fell as Wall Street prepared for the start of a new trading month following a strong performance in May. <\/p>\n

S&P 500 futures traded down 0.3%, a sentiment echoed by Nasdaq-100 futures. Futures tied to the Dow Jones Industrial Average also declined by 108 points, or 0.3%.<\/p>\n

This came after a mixed close for the three major US averages on the preceding Friday. <\/p>\n

The S&P 500 was little changed, inching down by 0.01% to end at 5,911.69, but still closing out a significant winning month. <\/p>\n

The Nasdaq Composite slid 0.32% to 19,113.77, while the Dow Jones Industrial Average managed to add 54.34 points, or 0.13%, to finish at 42,270.07.<\/p>\n

The post Asian markets close: stocks fall on Trump’s steel tariff hike; Sensex ends 77 pts down<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

A wave of apprehension swept through most Asia-Pacific financial markets on Monday, with major indices closing predominantly lower after US President Donald Trump announced a significant escalation in trade protectionism by declaring he would double tariffs on steel imports to 50%. This move, effective from Wednesday, reignited concerns about global trade stability and weighed heavily <\/p>\n","protected":false},"author":1,"featured_media":40289,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-40288","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/40288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=40288"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/40288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/40289"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=40288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=40288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=40288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}