Japan’s Nikkei closes near 8-month low on US tariff jitters

The Nikkei fell 4.05% to 35,617.56, its lowest close since August 9, a few days after the index posted its biggest single-day rout since the 1987 Black Monday crash.

The index posted its biggest daily decline since September 30.

The broader Topix fell 3.5% to 2,658.73.

“Investors’ sentiment was weakened as there is so much uncertainty ahead of the announcement on reciprocal tariffs,” said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management.

“They were in a risk-off mode and offloaded what they had bought. But this week is the toughest, and they will start buying them back once the outlook becomes clear.”

U.S. President Donald Trump has promised to unveil a massive tariff plan on Wednesday, which he has dubbed “Liberation Day.” He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.

Trump said on Sunday reciprocal tariffs that he is set to announce will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.

Wall Street stocks ended sharply lower on Friday, with sell-offs in tech giants such as Amazon and Microsoft , after U.S. data fuelled fears of weak economic growth and high inflation as the Trump administration ratchets up tariffs.

In Japan, Uniqlo-brand owner Fast Retailing lost 3.67% on Monday, while chip-related Tokyo Electron and Advantest slipped 6.57% and 7.65%, respectively.

Shares of Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group lost 4.62% and 3.58%, respectively.

Automakers fell, with Toyota Motor and Honda Motor losing 3.13% and 3.97%, respectively.

All 33 industry sub-indexes on the Tokyo Stock Exchange declined, while the Nikkei volatility index surged 5.8 points to 28.15, marking its largest gain since September 4.

All but one of 225 components of the Nikkei index fell, with chipmaker Renesas Electronics tanking 11.21%.

Home interior goods retailer Nitori Holdings rose 2.28%.

This article was generated from an automated news agency feed without modifications to text.