New Delhi, April 8 -- Stock markets crashed on Monday as economic anxiety grew in the wake of America's tariff blitzkrieg. Hong Kong's Hang Seng index tanked 13%, Japan's Nikkei lost 8%, Europe's Stoxx 600 was down 5% and India's BSE Sensex closed almost 3% lower.

US President Donald Trump's comments on Sunday had only added to the worries. "Sometimes you have to take medicine to fix something," he said, referring to his drastic shift in America's trade policy.

After decades of keeping its market open, the US is receding behind a protectionist wall. His endgame is far from clear. What has become evident is that Trump wasn't using tariff threats as a bluff and he is ready to let his country endure the pain of a structural transition.

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