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Stock impact report

Japanese stocks tumble as banks slump on tariff jitters [Yahoo! Finance]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Yahoo! Finance
for their sharpest weekly drop in five years, as fears of a global recession in the wake of U.S. President Donald Trump's sweeping tariffs gripped markets. As of 0420 GMT, the Nikkei index was down 3.6% at 33,474.56, and on course for a weekly decline of nearly 10%, if losses hold. The broader Topix fell 4.6% to 2,448.94, poised for a weekly drop of 11%. Both indexes were set for their steepest weekly losses since March 2020. The brutal selloff came after Trump announced on Wednesday Washington's steepest trade barriers in more than 100 years, sending investors scrambling for safe-haven assets, including the yen, which added further pressure on Japanese stocks. The rout was led by banking stocks as the spectre of tariffs and their potential impact on economic growth stoked speculation that the Bank of Japan may need to delay rising interest rates. Japanese bank shares recently gained popularity among investors betting on rising BOJ interest rates. All but three of the Toky Show less Read more
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