Tokyo stocks ended almost 4% lower Wednesday and the yen firmed against the dollar after U.S. tariffs against countries — including Japan — came into force.
The Nikkei 255 index of shares ended the day down 3.93% at 31,714.03. The yen came off earlier highs to trade at ¥145.27 per dollar, up 0.7%.
U.S. President Donald Trump spent the final hours before his tariffs were set for implementation lining up negotiations with U.S. allies, but his insistence on pushing forward with sweeping 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided. The S&P 500 closed down 1.6%, leaving it on the brink of a bear market.
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