The administration’s new cross-the-board duties have triggered a worldwide selloff, with stock prices suffering another big drop after markets opened Monday as the new reality set in.

Trump’s Tariff Policy Is in Part a Containment Strategy to Deal With the China Threat

Whereas 10 years ago it was commonly believed that the Chinese economy was about to pass that of the United States, China’s economy today is less than two-thirds of that of the United States, and it is still 40 percent a command economy in a totalitarian state that is profoundly corrupt.

China is not a rich country, it has a large aging population because of its insane former one-child policy, and several hundred million Chinese still live as they did 1,000 years ago. 

Asian billionaire BLOODBATH: Trump’s tariffs wipe out $46B

With markets getting hammered, Lei Jun, chairman of smartphone-maker, Xiaomi Corp., lost the most in a single day after Donald Trump doubled down on his new import tariffs. 

The billionaire bled $7.8B, or 20% of his fortune as Asian markets nosedived on Monday, according to Bloomberg.

🔍Other prominent Asian tycoons also took heavy blows:

🔴Tencent Holdings’ co-founder Pony Ma shed $6.8 billion
🔴India’s industrial magnate, Gautam Adani, saw his fortune slide by $4.2 billion
🔴Hong Kong’s battery king, Robin Zeng, lost $4.1 billion

Overall, Asia’s top 20 moguls saw $46B go up in smoke as markets tanked.

Here are the major multinationals hit hardest over the past week.

Big Tech:

•  Apple: 16.8% sliced from its market cap (at $300B+ in losses, the absolute biggest loser in dollar terms, with market cap shrinking to $2.7 trln).
•  Alibaba: shaved a whopping 19.6% from its valuation, the worst performer in percentage terms (new market cap: $239B).
•  TSMC: 12.3% drop, $663B market cap.
•  Salesforce: 11% drop, $236B.
•  Nvidia: 10.1%, $2.4 trln.

Big Banks:

•  HSBC: 15.98% in valuation lost, $173.3B new cap.
•  Goldman Sachs: 14.3% drop, $151B cap.
•  Bank of America: 13.9%, $272.2B.
•  Morgan Stanley: 13.2%, $164.1B.
•  JPMorgan Chase: 13%, $602B new valuation.

Big Pharma:

•  Thermo Fisher: down 12.5%, $165.6B cap.
•  Eli Lilly & Co: 12.1% drop, $652B new cap.
•  AstraZeneca: Down 11.1%, $216.6B.
•  AbbVie: 9.76% in value wiped out, market cap of $329.4B.
•  Novartis: 9.5% drop to $203.9B.

Energy:

•  Shell: 15.4% drop, $193.8B cap.
•  Chevron: 15.1%, $248.8B.
•  Exxon Mobil: 12.5% in value gone, $445B cap.

Defense:

•  GE: 15.7%, $179.1B valuation.
•  RTX: 12.7% gone, $157.6B cap.

Other Big Losers:

•  Disney: 15.3% drop, $150.7B.
•  Tesla: 10.7%, $751B cap.
•  Toyota: 9.7% lost, $202.8B.

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