With heavy losses today, Monday, Monday, asian stock markets, as the thrust waves of duties imposed by US President Donald Trump continue to resonate around the world.

Important indicators from Shanghai to Tokyo and Sydney to Hong Kong dip on Monday. “It’s a blood bath,” said one BBC analyst.

As an area that manufactures countless products sold worldwide, Asian countries are directly affected by Trump duties.

The Japanese Nikkei 225 fell 7.8%, ASX 200 in Australia lost 4.2% and Kospi in South Korea closed 5.6% lower.

The fall in mainland China, Hong Kong and Taiwan worsened as investors faced the major falls observed in other markets on Friday.

Shanghai Composite closed 7.3% and Hang Seng fell 12.5% ​​to the afternoon.

“Duties feed the expectations around inflation and recession,” said Julia Lee, head of FTSE Russell’s customer cover, a subsidiary of the London Stock Exchange Group.

Goldman Sachs now predicts that there is a 45% chance that the US will fall into recession over the next 12 months – from 35% of the previous estimate – as the colossus of investment banking reduced its forecasts for the country’s economic growth.

“Asia is taking on the greater burden of US duties growth. While there could be some margin of negotiation, a new higher duty regime is here to stay, “said Qian Wang, asia Pacific economist at the Vanguard investment company.

“This is negative for the global and Asian economy, especially for small open economies, both in the short and in the long run.”

Countries from Vietnam to Bangladesh have become very dependent on the US as an export market.

Several large American brands produce products in Vietnam, including Nike and Lululemon. Bangladesh is exporting $ 8.4 billion to the US a year, according to the Bangladesh Garment Manufacturers and Exmorters Association.

“Asia is likely to feel disproportionately the burden of this turmoil because Asia is sending more exports to the US than to other markets,” said Frank Lavin, former Deputy Minister of International Trade at the US Department of Commerce.

Global stock markets have lost trillions of value since Trump announced new 10% of import taxes in goods from each country, with products from dozens of countries, including key commercial partners such as China, the European Union and Vietnam, to face much higher rates.