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Markets

Asian stocks plummet as Trump steps up China trade war

Nikkei index drops 500 points while regional benchmarks fall across board

A screen shows the Nikkei average plunging on Aug. 2. (Photo by Kai Fujii)

TOKYO -- Stock markets across Asia tumbled in early trading on Friday after U.S. President Donald Trump announced a fourth round of tariffs on Chinese goods.

Tokyo's Nikkei Stock Average was down more than 500 points, hovering at around 21,000. Foreign hedge funds among other investors rushed to sell due to concerns about the prolonged U.S.-China trade row.

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