TOKYO, April 7 (Xinhua) -- Tokyo stocks plunged Monday, with the benchmark Nikkei index suffering its third-largest point drop on record, amid a global market rout as fears of an all-out trade war and a global economic recession triggered by the U.S. tariffs hike intensified.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 2,644.00 points, or 7.83 percent, from Friday at 31,136.58, its lowest closing level since Oct. 31, 2023.

The broader Topix index, meanwhile, finished 193.40 points, or 7.79 percent, lower at 2,288.66.

Panic selling gripped the stock market following Wall Street declines Friday as sweeping U.S. "reciprocal tariffs" ignited fears of a trade war and a worsening global economy.

The Nikkei's tumble was the biggest since the 3,836-point drop registered on Oct. 20, 1987, the day after the Black Monday stock market crash.

The benchmark index at one point shed nearly 3,000 points, falling below the key 31,000 line, with heavyweight technology issues pressured after U.S. President Donald Trump said last week he plans to announce tariffs on semiconductors and pharmaceuticals soon, analysts said.

Meanwhile, Japanese Prime Minister Shigeru Ishiba said Monday he will continue to try to negotiate a deal with the United States to lower the harsher-than-expected tariffs slapped on Japanese exports, while signaling a measured approach to dealing with new tariffs. Enditem

Related

Go to Forum >>0 Comment(s)