Nikkei 225 Slumps to Lowest Since August on Trump’s 24% Tariffs
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Japan’s blue-chip Nikkei 225 Stock Average slumped to its lowest since August after President Donald Trump slapped a 24% tariff on exports from the nation under a plan to impose levies on trading partners worldwide. A stronger yen also weighed on exporter shares.
The broader Topix Index fell 3.1% to 2,568.61 as of market close Tokyo time, while the Nikkei declined 2.8% to 34,735.93. Exporters such as manufacturers of autos and electric appliances fell, while banks contributed significantly to the Topix’s losses on speculation that the BOJ will hold off on raising rates, to support growth. The banking index on the Topix plunged 7.2%, the most since the August rout.