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of <h1>Trade War Sparks Sharp Market Declines as US-China Economic Tensions Escalate, Threatening Global Financial Stability</h1> Asian financial markets experienced significant volatility as trade tensions between the United States and China escalated. Japan's Nikkei index dropped 5.6%, while South Korean and Australian markets also declined. US stocks reversed previous gains after trade tariff announcements, with potential impacts on international film imports and broader economic relations. China signaled countermeasures and sought international alliances, creating uncertainty in global financial markets.
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