Global Trade War Sparks Sharp Decline in Hong Kong and Chinese Stocks

News Snapshot:

On Monday, Hong Kong and Chinese stock markets experienced significant declines as fears of an escalating global trade war loomed large. The Hang Seng index suffered a dramatic drop of more than 10%, potentially marking its most substantial daily decrease since the 2008 financial crisis. The banking sector took a hit, with shares of HSBC and Standard Chartered plummeting by 15%. China's CSI300 blue-chip index also saw a downturn, with broad sectoral sell-offs and the yuan reaching its lowest value since January. As the trade conflict between the U.S. and China escalates, doubts over global demand and economic growth intensify....