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

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

, Reuters - 8:33 PM ET 4/2/2025 default

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

The broader Topix 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 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 dropped 3.3%, with additional tariffs on car exports to the U.S. set to go into effect later on Thursday.

(Reporting by Kevin Buckland; Editing by Sherry Jacob-Phillips)

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