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World shares are slump­ing again on Wednes­day af­ter U.S. Pres­i­dent Don­ald Trump’s lat­est tar­iff hikes took ef­fect and he threat­ened to add still more. Chi­na an­nounced coun­ter­mea­sures, say­ing it will raise its re­tal­ia­to­ry tar­iff on the U.S. to 84%, up from 34%, ef­fec­tive April 10.

Where the mar­kets stand:

Asia: Japan’s Nikkei 225 closed 3.9% low­er, at 31,714.03. Hong Kong’s Hang Seng rose 0.7%, while the Shang­hai Com­pos­ite in­dex closed 1.3% high­er. Thai­land’s bench­mark al­so rose, ap­par­ent­ly due to spec­u­la­tion that Bei­jing might be prepar­ing to hold talks with the Trump ad­min­is­tra­tion.