Toyota Motor Corp. slid in the US market on Tuesday after the carmaker’s stock tumbled in the final minute of trading amid a downturn in the broader Japanese stock market earlier.
The stock closed 4.8% lower in Tokyo, its biggest decline since March 2022, shaving about $11 billion from the carmaker’s market value. The benchmark Topix closed 0.7% lower, erasing a gain in afternoon trading as news about Japan’s restrictions on chip-technology exports spurred profit taking. The American Depositary Receipts fell as much as 1.9% by 10:20 a.m. in New York.
