Hong Kong stock exchange closes with biggest loss in almost 30 years

The financial markets are experiencing a catastrophic Monday. Due to Donald Trump's trade war, stocks are being sold en masse.

The Hong Kong stock exchange saw the biggest drop since 1997: on Monday it closed down by as much as 13.12 per cent.

Other stock indices in Asia also ended with significant losses: Tokyo (Japan) fell by 7.8 per cent, Seoul (South Korea) by 5.6 per cent, Sydney (Australia) by 4.2 per cent, and Shanghai (China) by 7.3 per cent.

Last week, the US government under Donald Trump implemented a global tariff of 10 per cent on all goods imported into the United States. Certain countries and trade blocs were subject to even higher import tariffs.

(PP with DC - Source: NYT, CNN, Belga - Picture: © picture alliance / NurPhoto | Vernon Yuen)