According to experts, the Nikkei 225 index sank to its lowest level since March 2018. It fell by 0.3 percent, to 21,148.02. The broader Topix index decreased 0.9 percent to 1,575.31, the lowest closing level since May of 2017.
Analysts believe the decline occurred due to serious concerns about a slowdown in the global economy. This put shares in large financial companies under pressure, and the uncertainty regarding the US and Japanese trade deal had a negative impact on shares in car manufacturers.
Securities of leading automakers fell in price after statements by representatives of the American car industry about the inclusion of a clause on combating currency manipulations in a US-Japan trade deal. Shares of Nissan Motor dropped by 3.1 percent, and Subaru Corp plunged by 2.4 percent.
Financial sector stocks showed a negative trend: Mitsubishi UFJ Financial Group shares plunged by 2.0 percent, while Sumitomo Mitsui Financial Group shares lost 1.6 percent. Securities of electronics manufacturers also fell: the cost of Sharp Corp shares decreased by 4.4 percent and TDK Corp lost 2.3 percent.
