FX.co ★ Japanese Shares Slide as US Tariffs Take Effect

Japanese stocks experienced a significant downturn on Wednesday following the official implementation of US tariffs, which sparked widespread market declines. The Nikkei 225 plummeted by 3.93% to settle at 31,714, while the Topix Index saw a decrease of 3.4%, closing at 2,349. This downturn reversed the gains from the previous session and reflected overnight losses observed on Wall Street. The newly imposed tariffs include a 24% duty on Japanese goods alongside a 25% tariff on automobile exports to the United States. President Trump confirmed that Japan will send a delegation for negotiations, while Prime Minister Shigeru Ishiba has urged Trump to reconsider these tariff measures during a recent conversation. The financial and technology sectors bore the brunt of the selloff, with Mitsubishi UFJ tumbling by 5.3%, Sumitomo Mitsui dropping 4.9%, and Disco Corp experiencing an 8.2% decline. Additionally, the automotive and consumer sectors showed signs of weakness, with Toyota falling 2.6% and Sony decreasing 3.5%.