All five major Asian Indices closed in red today. Japan’s Nikkei plunged over six per cent, its biggest daily fall since the March 2020 COVID-19 crisis. South Korea’s Kospi lost 3.79 per cent, Hong Kong’s Hang Seng dropped 2.12 per cent, Singapore’s Straits Times index declined 1.14 per cent, and China’s Shanghai Composite lost 0.93 per cent. Ripples of the downturn in Asian stocks were also evident in the European indices, with all major European indices trading in negative territory. Germany’s DAX declined by 1.72 per cent, France’s CAC 40 slipped by 0.92 per cent, and the U.K.’s FTSE dropped by 0.42 per cent when reports last came in.