Wall Street closes with no clear direction, Asian markets open with ups and downs after sharp declines on Trump's tariffs

The New York Stock Exchange closed Monday's session with mixed results, although the drop was less steep than other stock markets still weighed down by the impact of President Donald Trump's tariffs.

Both the Dow Jones and the S&P 500 closed lower despite brushing positive territory, while the Nasdaq posted a modest gain.

The Dow Jones Industrial Index closed down 0.9% at 37,965.60 points. The broader S&P 500 gave up 0.2% to 5,062.25 units, while the tech-heavy Nasdaq advanced 0.1% to 15,603.26.

Markets reopened in the red again after a gloomy day in Asia and Europe due to weakening global growth prospects following President Trump's tariff announcement last week.

Asian stock markets opened on Tuesday with ups and downs

Asian stock markets were up and down on Tuesday, a day after suffering historic declines triggered by the President Donald Trump's tariffs on exports from almost everywhere in the world.

The variation in Asian stock markets came amid the threat of a trade war between the world's two largest economies, after China announced retaliation against the United States and Trump threatened 50% additional tariffs on the Asian country.

The Nikkei index in the Tokyo Stock Exchange rose more than 6%, while Hong Kong rose more than 2%, though not enough to offset its 13% drop on Monday.

Rises were also recorded in Shanghai, Sydney, Seoul, Wellington and Manila.

In contrast, the Taipei stock exchange was down more than 4% on Tuesday, following losses of more than 9%, with additional declines in Singapore.

Similarly, Jakarta's exchange had to suspend trading after falling more than 9% at market open, while Vietnam, one of the countries hardest hit by Trump's tariffs, lost 5% on Tuesday.

Thailand's stock market also lost more than 4% at its opening on Tuesday.

Trump caused a stir in the world economy last week by announcing tariffs against almost every country, sparking fears of a global recession.

Following that move by the U.S., stock markets and oil prices collapsed around the world on Monday.

Trump insisted Monday on his tariff crusade by stating that he was not seeking to pause implementation of the levies.