Asia
Nintendo Plummets 10% in Tariff-Induced Wipeout for Japan Stocks
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Nintendo Co. and Sony Group Corp. shares fell by more than 10% in Tokyo on Monday amid a widespread selloff in Japan exacerbated by President Donald Trump’s latest comments on the far-reaching tariffs he’s imposed on US imports.
Nintendo, fresh off the announcement of its pivotal next-generation Switch 2 console, is particularly vulnerable as North America accounted for more than 40% of its sales in the holiday quarter. The company has delayed pre-orders in the US while it assesses the potential impact. Most of its Switch hardware is assembled in China and Vietnam, with exports from both countries set to be subject to levies totaling 46% or more.