Asian markets recover amid tariff uproar, Japan's Nikkei 225 stock index rises by 5%

Amid the tariff war, markets across the world dipped by a significant amount on Monday. But the scene was different on Tuesday and markets in Asia surged. Japan's Nikkei 225 index of stocks dipped by 8 percent one day prior to this, but then it increased by 5.5 percent on Tuesday. Asian markets plummeted on Monday. Stocks in Hong Kong dropped by 13.2 percent, which was the lowest single session in 1997 during the Asian financial crisis.

Stock markets across the globe, including the US, plummeted on Monday after President Trump declared that harsh tariffs would be placed on numerous nations of the world. The stock market of the US also crashed. On Tuesday, the Nikkei increased 225 points to 32,819.08 points, half an hour after the Tokyo market had opened in Japan. Kospi in South Korea increased by 2 percent too. Markets in Australia and New Zealand also increased.

The S&P 500 fell 0.2% on Monday. The Dow Jones Industrial Average fell 349 points or 0.9%, and the Nasdaq Composite gained 0.1%. All three indexes started the day with a huge decline. After this, the Dow Jones fell by up to 1,700 points after the decline in other parts of the world. However, later it gained about 900 points. Meanwhile, the S&P 500 rose from a 4.7% decline to a 3.4% jump, which is its biggest jump in several years.

Amidst this turmoil, US President Donald Trump shared a post on the social media platform Truth, in which Trump wrote that if China does not remove the 34 percent tariff it has imposed on America within 24 hours, then a 50 percent tariff will be imposed on China. Due to this, there is no hope of the trade war between America and China stopping and it is sure to have an impact on the global economy.