Global stock markets crash

The announcement of reciprocal tariffs of more than 30% on goods from China and Taiwan has pushed the total import tariff from China to 54%, considered the highest in more than a century.

This move caused investors to panic, withdrawing capital from the stock market and seeking safe havens such as bonds, gold and the Japanese yen.

Nasdaq futures fell 4%, wiping out $760 billion in market capitalization for the “Magnificent Seven” tech group. Apple was the hardest hit, down nearly 7%.

Major global stock indexes plunged. The S&P 500 fell 3.3%, European stocks lost nearly 2%, and the UK FTSE fell 1.8%.

In Asia, Japan's Nikkei fell nearly 4%, South Korea's Kospi lost 2%, and the Vietnam ETF index fell more than 8% in after-hours trading.

Brent oil prices fell more than 3%, while gold prices rose sharply to a record $3,160/ounce.

In the US, the yield on 10-year government bonds fell to a five-month low of 4.04%, due to concerns about slowing economic growth. The market is expecting the Federal Reserve (Fed) to cut interest rates soon to support the economy.

Vietnam stock market falls vertically

In Vietnam, the stock market opened on April 3 with a strong sell-off. The VN-Index dropped 67 points at the beginning of the session, down to 1,250 points, with many large stocks such as HPG, MSN, MWG, and TCB falling to the floor price.

By 9:30 a.m., the index continued to fall sharply to 1,268 points, equivalent to a loss of nearly 49 points. Industries such as seafood, household goods, rubber and chemicals were sold the most.

What are the risks to the global economy?

Experts warn that the new tax from the US will not only affect China, but also spread to many other countries such as Japan, South Korea, Vietnam and the EU.

High tariffs could sharply increase the cost of goods, disrupt global supply chains and slow economic recovery.

In particular, the US closing of a loophole that allows imports of low-value packages from China could have a serious impact on the e-commerce industry.

Economists say if affected countries respond with similar measures, global trade will face a growing risk of recession and instability.