Tuesday, 22 October 2019
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Nikkei tumbles to 3-month low as carmakers plunge on Trump's Mexico tariff

Japan's Nikkei tumbled to a more than three-month low, led by a plunge in carmakers after U.S. President Donald Trump said the United States would impose a new tariff on all imports from Mexico next month until illegal immigration is stopped.

The Nikkei share average fell 0.7% to 20,795.63 in midmorning trade, after sinking to as low as 20,672.29 earlier in the session, the lowest since mid-February.The broader Topix index was weaker with all but two of its 33 subsectors in the red.

The transport equipment sector tumbled 2.4% and was the second worst sectoral performer on the board. Mazda Motor Corp dived 6.4%, Toyota Motor Co shed 2.3%, Nissan Motor Co plunged 3.1% and Honda Motor Co declined 3.2%.

Source : Reuters

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