Tokyo Markets in Japan and Korea have already begun losing the day in anticipation of US President Donald Trump’s speech on the coronavirus pandemic. But instead of reassuring the markets, Trump scared them with his 30-day travel ban on all European travelers on the mainland.
Shortly after Trump began his speech, the Nikkei dropped to less than 18,600 points, more than 4 percent below the previous day’s level, within half of 19,131 points. That Trump spoke little about economic programs disappointed the markets, reported the Japanese business newspaper Nikkei.
The other markets also reacted with shock. In Korea, the Kospi index fell 4.3 percent in the first half hour after Trump’s speech. China’s Shanghai Composite Index lost 1.1 percent, Hong Kong’s Hangseng index and Singapore’s Hangseng index lost 2.9 percent.