The Nikkei 225 fell 2% to around 34,000
The Nikkei 225 fell 2% to around 34,000, while the broader Topix Index dropped 2.3% to 2,510 on Friday, extending losses from the previous session and hitting their lowest levels in about eight months. Japanese shares also tracked a sharp selloff on Wall Street overnight which wiped out $4 trillion in market value as US President Donald Trump’s sweeping tariffs stoked fears of an all-out trade war and a global recession. The tariffs—including a 24% levy on Japanese imports and a 25% tariff on car shipments—have dealt a significant blow to Japan’s export-heavy economy, particularly its automotive sector. In response, Trade Minister Yoji Muto said Japan would continue to seek an exemption from the tariffs and announced a task force to assess their impact. Financial stocks led the decline, with steep losses from Mitsubishi UFJ (-8.3%), Sumitomo Mitsui (-7.5%), and Mizuho Financial (-9.3%). Shares of major auto, technology, and retail firms also faced heavy selling pressure.(Newsmaker)
Source: Trading economi
