New York (CNN Business) President Donald Trump sent fresh shivers through Asian markets on Monday, with stocks around the region plunging after his latest threat to further increase tariffs on exports from China. The Shanghai Composite Index dropped more than 3% Monday morning, while Hong Kong's Hang Seng Index was around 2.5% lower. Trump renewed threats to raise tariffs on Chinese goods over the weekend, even as the United States and China gear up for another round of trade talks starting Wednesday. "With so much of the region's fortunes closely intertwined with China, we could see a sea of red as regional stock markets open today," he added. Trump's warning on Sunday also hit US stocks, sending Dow futures down more than 400 points Sunday evening.

Source: CNN May 05, 2019 23:37 UTC