Trump Sparks Market Volatility as Asia Heads Into New Year Holiday

Bloomberg's Evening Briefing Asia will resume publication on Jan. 31.

It’s a nervous time for Asian investors as much of the region goes on holiday for Lunar New year. It was, of course, President Donald Trump who sparked a bout of volatility by sending another signal that he’s preparing wide-ranging tariffs. His call for across-the-board tariffs — on semiconductors, pharmaceuticals and some metals — shook the complacency of some investors who’d been betting on a softer initial approach. The comments reverberated around markets: the dollar surged against all major currencies, Asian stocks slipped even with Chinese markets closed and metals like copper extended losses. The spotlight was on Trump’s comment that he wants “much bigger” tariffs than the 2.5% reportedly favored by his Treasury Secretary, Scott Bessent, who won confirmation in the US Senate late Monday.