Today's international markets: KOSPI, Nikkei, and Hang Seng Trump's tariffs cause Asian stock markets to open lower.

As the White House proceeded with wide tariffs on trading partners, including a hefty 104% charge on China, investor risk appetite waned, and Asian markets began down this morning. U.S. Treasury yields, however, kept rising.

After falling 20% from its July peak, South Korea's Kospi has formally entered bear market territory, while Japan's Nikkei has maintained its downward trend, currently down more than 3.5%.

The primary causes of the market decrease in Japan were technology stocks, with Tokyo Electron (8035.T), a maker of chip-making equipment, and Advantest (6857.T), a manufacturer of chip-testing equipment, both of which had a 9% decline.

Concerns about a possible global recession are being heightened by the escalating trade conflict, which was exemplified by Trump raising tariffs on China to 104%. As market volatility and stress continue to rise globally, investors are growing more restless and worrying disruptions in the financial system. Despite continuing worries about inflation, this has sparked increasing conjecture that the Fed may be compelled to speed up interest rate decreases.

Today's US markets

Tuesday was another tumultuous day on Wall Street as the market saw significant swings due to growing trade concerns between the US and China. Despite earlier reporting its greatest recovery since 2022, the S&P 500 closed the day down 1.6%, nearly plunging into bear market territory.

For the first time in almost a year, the S&P 500 fell precipitously on Tuesday, dipping below the 5,000 mark. As market confidence dwindled over the prospect of the U.S. delaying or lowering tariffs before the midnight deadline, this loss erased a robust morning rise.

Even though many markets have seen a decline in liquidity, markets have largely continued to operate normally, and there aren't many indications of financial stress. However, given the magnitude of recent asset changes, we are keeping a closer eye on possible areas of financial strain," said Vickie Chang and Dominic Wilson, analysts at Goldman Sachs Group Inc., in a note sent late Tuesday.