Stock market today: Asian markets slip following Trump’s announcements of big tariff hikes

BANGKOK (AP) — Asian markets and U.S. futures tumbled Thursday following U.S. President Donald Trump's announcement of big increases in tariffs on imports of goods from around the world. Tokyo's Nikkei 225 index initially dipped more than 4%, but recovered slightly. It was down 2.9% at 34,675.97. Trump said he was imposing a 24% "reciprocal tariff" on Japan, one of the United States’ closest allies. South Korea, also an ally, was hit with a 25% tariff. Its benchmark Kospi slumped 1.5% to 2,468.97. Hong Kong’s Hang Seng lost 1.4% to 22,887.03, while the Shanghai Composite index edged less than 0.1%…