Japan’s benchmark Nikkei index plunged more than 8% on Monday, deepening a global stocks rout triggered by US President Donald Trump’s trade war.
The share average, which tracks 225 of the country’s most valuable companies, has fallen below the 33,000 level for the first time since August 2024, according to Reuters. The broader Topix index last traded more than 9% lower.
Asian markets are tracking the worst two-day stretch for Wall Street stocks in five years. US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value.
US stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice of a bear market — a decline of 20% from its peak and an ominous sign for investors and perhaps the broader economy.
This is a developing story and will be updated.
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