EMERGING MARKETS-Asian stocks sink as tariff worries rattle investors
April 7 (Reuters) - Equities in Asian emerging markets plummeted on Monday to multi-year lows, as fears of a global recession fuelled by U.S. President Donald Trump's harsher-than-expected tariffs gripped markets.
The Singapore benchmark index .STI fell 7% at the open and was on course for its biggest one-day percentage decline since March 2020. Malaysian stocks .KLSE fell more than 4% in early trade to their weakest in 16 months.
Stocks in the Philippines .PSI also plunged over 4%, while those in Taiwan .TWII crashed almost 10% on their first day of trading since Trump's new import tariffs last week.
The carnage across Asia and markets globally came as White House officials showed no sign of backing away from their sweeping tariff plans, and China declared the markets had spoken on their retaliation through levies on U.S. goods.
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