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Japan's Nikkei tumbles more than 4% on Trump's tariffs

ReutersApr 3, 2025 1:12 AM

TOKYO, April 3 (Reuters) - Japan's Nikkei share average slumped more than 4% on Thursday, plunging to an eight-month low, after U.S. President Donald Trump revealed a broad set of reciprocal tariffs, including a 24% levy on Japanese goods.

The Nikkei .N225 slumped as much as 4.6% in early trading, dropping to 34,102.00 for the first time since August 7.

The broader Topix .TOPX lost as much as 4.3%.

Of the Nikkei's 225 components, 217 were in the red, while just eight showed gains as of 0020 GMT, 20 minutes into the trading day.

Banks .IBNKS.T were the worst performers among the Tokyo Stock Exchange's 33 industry groupings, sliding 6%, as a sharp decline in bond yields at home and abroad darkened the outlook for income from lending and investing.

The bourse's automaker sub-index .ITEQP.T dropped 3.3%, with additional tariffs on car exports to the U.S. set to go into effect later on Thursday.

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