Asian markets plunge further amid tariff fallout; Trump says ‘sometimes you have to take medicine’
Japan’s Nikkei 225 tumbles nearly 9% on Monday as Hong Kong’s Hang Seng is down 8%, and South Korea tradingis temporarily halted amid Trump tariff concerns
index of Japanese bank stocks plunged as much as 17%, as concerns over a tariff-induced global recession continue to rip through markets.
The Nikkei dropped as much as 8.8% to hit 30,792.74 for the first time since October 2023. The index was trading down 7.3% at 31,318.79, as of 0034 GMT, Reuters reports.
All 225 component stocks of the index were trading in the red.
The broader Topix sank 8% to 2,284.69.
A topix index of banking shares slumped as much as 17.3% and was last down 13.2%.
The bank index has borne the brunt of the sell-off in Japanese equities, plunging as much as 30% over the past three sessions.
Source: The Guardian
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