TOKYO: Japanese shares slid the most in two months on Monday as concerns mounted over the US economy and trade, while speculation grew over a potential upheaval in domestic politics.
The Nikkei 225 Index of shares closed 1.25% lower, its steepest one-day slide since June 2. At one point, the gauge was down as much as 2.3%.
The broader Topix declined 1.1%, with a sub-index of bank stocks sliding 3.2%.
US shares fell sharply on Friday after data showed that the world’s largest economy created fewer jobs than expected in July, while June’s job growth was revised sharply lower, and a new round of punishing tariffs cast a shadow on global trade.
Tariffs that US President Donald Trump imposed last week on dozens of countries are likely to stay in place rather than be cut as part of continuing negotiations, US Trade Representative Jamieson Greer said.
The tariffs include a 35% duty on many goods from Canada, 50% for Brazil, 25% for India, 20% for Taiwan and 39% for Switzerland.
Comments
Comments are closed for this article.