Japan's stocks plunged after President Donald Trump slapped the nation with a 24% levy as part of tariffs on trading partners worldwide. A stronger yen also dragged exporter shares lower. The Topix Index fell 4% to 2,544.41 as of 9:12 a.m. Tokyo time, while the blue-chip Nikkei declined 4.1% to 34,281.76. Contracts traded in Singapore initially spiked, then fell as details of the tariffs rolled out, suggesting the market will face volatility Thursday as investors digest the news. "Overall I think this was on the harder side of expectations," said Nick Twidale, chief analyst...
Japanese stocks ended in the red on Thursday after U.S. President Donald Trump announced larger-than-expected tariffs, disrupting trade and supply chains. The Nikkei 225 fell 2.78%, or 992.53 points, to close at 34,733.34. The U.S. imposed 24% tariffs on Japanese imports as President Donald Trump unveiled a sweeping trade policy, setting a base rate of 10% and hitting key Asian partners with higher tariffs. China faces 34%, Vietnam 46% and South Korea 25%, while the EU gets 20% duties. Trump also closed a loophole that allowed low-value Chinese goods to pass through without being taxed,...
Europe's major bourses fell on Thursday, with the STOXX 50 and STOXX 600 down more than 2%, amid a global selloff in stocks following President Trump's latest tariff announcement. The move sparked a broad flight to safety and deepened concerns about its impact on the global economy. The European Union faces tariffs of up to 20%, prompting European Commission President Ursula von der Leyen to warn that the move would deal a "huge blow" to the global economy. She also confirmed that the EU was preparing retaliatory measures. Losses were broad-based, with basic resources and banks among the...