Tokyo stocks plunged Monday ahead of a major round of tariffs set to be imposed this week by the United States and following big drops on Friday on Wall Street, where tech was hit especially hard.
Toyota, Honda and Nissan were among the big decliners in Japan as the week got rolling, and they were joined by Hitachi and Tokyo Electron. Stocks elsewhere in the region also fell, although the drops in other Asian markets were less pronounced than those in Japan.
U.S. President Donald Trump announced last week that 25% tariffs will be placed on all autos and auto parts imported into the United States from this Thursday. He is also expected to announce a major round of reciprocal tariffs this week in what he is calling "Liberation Day."
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.