Global markets plunged on Monday following U.S. President Donald Trump’s announcement last week of reciprocal tariffs on imports, set to take effect on April 9. Asian and European stock indices experienced steep declines, with Japan’s Nikkei 225 falling nearly 9% and Hong Kong’s Hang Seng dropping 9%. U.S. stock futures signaled further losses, with Dow Jones Industrial Average futures down over 900 points. Financial analysts warn of a potential recession as global trade tensions escalate.

South Korea’s KOSPI index fell 4.16% by mid-morning, triggering a sidecarafter KOSPI200 futures dropped more than 5%, marking the first halt since Aug. 2024’s