Trump’s tariff wreaked havoc in the world’s stock market, Japanese stock market fell by 8% and Korean by 5%

New Delhi: US President Donald Trump’s tariff has a big impact on the world’s stock markets. On Monday, a big decline was seen in the Asian stock market. Japan’s Nikkei recorded a decline of 225 points as soon as the market opened. After an hour, it was down by 7.1 percent at 31,375.71.

At the same time, South Korea’s Kospi was down by 5.5 percent at 2,328.52 while Australia’s S&P/ASX 200 was also down by 6.3 percent at 7,184.70. On Friday, the US Nasdaq closed with a decline of 6 percent. It is estimated that if this fall had happened in the Indian stock market, it would have fallen by 1400 points directly.

On the fall in the stock market, Trump said that during Joe Biden’s tenure, other countries treated America badly. This happened because of our poor leadership. Let us tell you that after Trump’s announcement, there was a huge decline in the stock markets. From the US stock market to the Asian stock markets, they fell. Cryptocurrencies like bitcoin also fell sharply. This has created fear among investors that tariffs will increase inflation and the economy may go into recession.

Warning of a big fall on Monday

Expert Jim Cramer had warned that the US markets could face a 1987-like devastation, while the Dow Jones had seen the biggest one-day fall till date. Cramer, who appeared on a TV show, said that on the first trading day Monday, the stock market could face the worst one-day fall since 1987’s ‘Black Monday’. When there was a huge decline in markets around the world, led by America’s Dow Jones Industrial Average. He claimed that if the US President does not contact those countries that have not imposed retaliatory tariffs on America, the situation may worsen.

What is this ‘Black Monday’?

Now let us tell you what is that day of 1987 that expert Jim Cramer is reminding of? So let us tell you that October 19, 1987 was Monday and there was a huge devastation in the US stock market on this day. The Dow Jones Industrial Average fell by 22.6 percent. Not only this, the S&P-500 index fell by 20.4% and its effect was seen all over the world. Now Jim Cramer has said that Donald Trump’s tariffs can bring the biggest decline in the market after 1987.