Asian shares skid after Wall Street tumbles to its worst day since April as China trade woes worsen

Market Overview - Asian shares experienced a significant decline due to escalating trade tensions with China, disrupting a period of calm on Wall Street [1] - U.S. stocks fell sharply after President Trump threatened to increase tariffs on China, indicating potential further complications between the two largest economies [2] Trade and Export Data - China's global exports rose by 8.3% in September year-on-year, marking the strongest growth in six months, as manufacturers shift sales from the U.S. to other markets [3] - Exports to the U.S. saw a dramatic drop of 27% year-on-year in the same month [3] Regional Market Performance - The Hang Seng index in Hong Kong dropped by 2.2% to 25,700.07, while other major regional markets recorded losses exceeding 1% [3] - The Shanghai Composite index fell by 0.2% to 3,889.50, and the Kospi in South Korea decreased by 0.7% to 3,584.55 [4] U.S. Stock Market Reaction - The S&P 500 index experienced its worst day since April, declining by 2.7% to close at 6,552.51, while the Dow Jones Industrial Average fell by 1.9% to 45,479.60 [4] - Approximately six out of every seven stocks within the S&P 500 declined, affecting both large tech companies and smaller firms [6] Economic Sentiment and Valuation Concerns - There are concerns regarding the high valuation of U.S. stocks, particularly in the artificial intelligence sector, with comparisons being made to the 2000 dot-com bubble [8] - The yield on the 10-year Treasury bond decreased to 4.05% from 4.14%, indicating a shift in investor sentiment [8] Oil Market Dynamics - The price of benchmark U.S. crude oil fell by 4.2% to $58.90 per barrel, influenced by a ceasefire in Gaza and concerns over global trade disruptions due to tariff threats [9][10] - Brent crude dropped by 3.8% to $62.73 per barrel, although it saw a slight recovery early Monday [11]