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Asian Markets Jittery After Trump Threatens New China Tariffs

Asian markets slumped Monday after President Trump threatened new U.S. tariffs against Made-in-China goods on Sunday after a glitch in trade talks. China’s Shanghai Composite Index was down 5.4 percent by midday and the Hang Seng Index was down 3.3 percent. Markets in Japan and South Korea were closed for the Monday bank holiday. In New York, Dow Futures were down 500 points and the value of Chinese currency also weakened on news of the new trade-talk troubles.