Vietnam's stock market experienced a sharp decline, with the benchmark VN Index dropping by 7.2% overnight on April 3, 2025. The Vietnam ETF saw an even more severe pre-market drop of 9%, potentially marking the worst single-day performance in its 20-year history, surpassing the previous record during the COVID-19 pandemic when it fell by 8%. Additionally, the VinaCapital Vietnam Opportunity Fund reported a decline of 9.8%, influenced by a weaker Vietnamese dong and a stronger British pound. Overall, many U.S. stocks that source from Vietnam also faced significant losses, contributing to a broader downturn in the market, which is now at its lowest level since January 2024.