Stocks slide in Asia as recession fears pummel sentiment, oil hits 4-yr lows

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SYDNEY: Stocks in Asia extended a slide on Wall Street on Wednesday as President Donald Trump looked set to press ahead with whopping 104% tariffs on Chinese goods, pummelling oil prices to four-year lows as global recession fears gripped financial markets.

Overnight, Washington confirmed 104% duties on imports from China would take effect after midnight on Wednesday.

"Given the import bill from China, the China tariff alone amounts to a whopping $400bn tax hike on U.S.households and businesses," they said in a note to clients.

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Category: EconomyBusiness

Markets: MalaysiaChinaHong KongJapanNew ZealandTaiwan

Topics: Securities Markets Asia Equities Trading /Business/Business News Stock

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-09 @ 10:29:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 697 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © The Star

News ID: 27745473

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