FX.co ★ Japanese Shares Sink 8% Amid Tariff-Driven Rout

The Nikkei 225 Index tumbled 8% on Monday, falling below 30,000 to mark its lowest point since October 2023, as global markets were roiled by the escalating trade war sparked by aggressive tariffs imposed by US President Donald Trump. Over the weekend, there was scant optimism, as efforts to negotiate a reduction or postponement of the tariffs proved fruitless. The Trump administration further downplayed the market downturn, dismissing concerns of inflation and recession, and affirmed that the tariffs would proceed as intended.