New Delhi, July 8 -- South Korean financial markets tumbled on Monday (July 7) after US President Donald Trump announced a surprise 25% tariff on South Korean goods, deepening trade tensions with a long-time ally and triggering broad risk-off sentiment across emerging markets.

The South Korean won sank as much as 1.1% to 1,378 per dollar - its weakest level in two weeks - immediately after Trump posted the tariff announcement on social media.

US President Donald Trump announced on Monday (July 7) that his administration will impose a 25 percent tariff on all imports from South Korea, citing long-standing trade imbalances and what he described as unfair tariff and non-tariff barriers. The tariffs are set to take effect from August 1, 202...