Hong Kong stocks have experienced their worst decline since the Asian financial crisis in 1997, with the Hang Seng Index plunging over 13% as fears escalate over the ongoing trade war and new tariffs imposed by the U.S. This has led to widespread panic selling across Asia-Pacific markets, with significant losses seen in Chinese tech stocks and exporters. Investors are increasingly concerned as trade tensions continue to fuel a risk-off sentiment, resulting in billions lost among Chinese tycoons. Amid this turmoil, experts warn of a volatile market ahead, while some seek government stimulus as a potential relief.