Asian markets have posted further losses after opening on Friday, hours after US markets closed the day with some of their worst losses in five years, with tech stocks particularly hard hit.
Tokyo’s Nikkei index was down 1.8% at 34,108.23, adding to a drop of 2.77% on Thursday. The broader Topix index was off 2.3%, having lost 3.08% the previous day.
Chip-related shares were some of the worst performers on Friday, with Advantest and Tokyo Electron down 7% and 4%, respectively.
Australia’s S&P/ASX 200 index fell as much as 2% on Friday to an eight-month low.
On Thursday, Wall Street’s tech-heavy Nasdaq Composite plunged 6%, while the retreat in the S&P 500 was its biggest in a day since 2020.
In Europe, both the Paris and Frankfurt stock exchanges finished the day with losses of more than 3%.
Oil prices plummeted more than 6% on concerns that an economic downturn sparked by Trump’s trade policies would hit demand. The price of gold hit another new record.
The dollar slumped by as much as 2.6 percent versus the euro, its biggest intraday plunge in a decade, and suffered sharp losses also against the yen and British pound.
On Friday, the US currency fetched 146.33 yen in early Asian trade, rebounding slightly from 145.99 yen in New York.
Source: The Guardian
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