- Title: Asia stocks slide in wake of Trump’s sweeping tariffs
- Date: 4th April 2025
- Summary: TOKYO, JAPAN (APRIL 4, 2025) (REUTERS) SCREEN SHOWING VARIOUS INDICE FLUCTURATING AT TOKYO STOCK EXCHANGE SCREEN SHOWING STOCK PRICES OF JAPANESE MAJOR BANKS FALLING STOCK PRICES FLASHING ON SCREEN BANKS STOCK PRICES FALLING SCREEN SHOWING VARIOUS INDICE SCREEN SHOWING TOKYO STOCK EXCHANGE LOGO SCREEN SHOWING TOKYO STOCK EXCHANGE LOGO AND VARIOUS INDICE AFTER MARKET CLOSES
- Embargoed:
- Keywords: Japan KOSPI Nikkei 225 South Korea TOPIX Tokyo Stock Exchange Trump U.S. banks stock prices tariffs
- Location: TOKYO, JAPAN / SEOUL, SOUTH KOREA
- City: TOKYO, JAPAN / SEOUL, SOUTH KOREA
- Country: Various
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA001418004042025RP1
- Aspect Ratio: 16:9
- Story Text: Shares of Japanese banks plunged on Friday (April 4) as U.S. President Donald Trump's tariffs sparked fears of a downturn in global growth that could choke off a fragile recovery and delay rate increases in the world's fourth-largest economy.
The Tokyo index of banking stocks was down 10% at 0537 GMT. Shares of Mitsubishi UFJ Financial Group, Japan's biggest bank by assets, fell 10%. Japan’s benchmark Nikkei 225 also tumbled 2.75% to 33,780.58 after the stock market closed 0630GMT in Tokyo.
In South Korea, the benchmark KOSPI closed down 0.86% at its lowest since February 3, after it started the session lower on Wall Street's overnight tumble on U.S. tariffs, though it briefly turned positive around the court ruling.
Trump's latest tariff salvo has sparked an investor stampede for safe havens such as government bonds, the yen and gold, as they hastily dumped risk assets. S&P 500 companies lost a combined $2.4 trillion in stock market value overnight, their biggest one-day loss since the coronavirus pandemic hit global markets on March 16, 2020, while other Wall Street indexes similarly suffered sharp falls.
(Production: Tom Bateman, Irene Wang, Yeonbin Park, Minwoo Park, Daniel Lim) - Copyright Holder: REUTERS
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