Topix Follows Nikkei Into Correction as Outlook Dims on Tariffs
Japanese stocks sank on Thursday after Trump slapped a 24% tariff on exports from the nation under a plan to impose levies on trading partners worldwide.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s benchmark Topix index slid to enter a technical correction as global investors dumped riskier assets on concern Donald Trump’s tariffs will slow the world economy.
Exporters of electronics and automobiles were among the heaviest drags on the Topix as the yen headed toward its strongest level against the dollar since October. Banks slid more than 11% during the day as Trump’s tariffs cast doubts over the Bank of Japan’s willingness to raise interest rates.