The Nikkei 225 Index saw a significant drop of 2.96%, closing at 33,585, while the more comprehensive Topix Index decreased by 2.85% to settle at 2,467 on Friday. These declines followed Wall Street’s notable losses, erasing gains made in the prior session. The downturn is attributed to rising concerns about the economic impact stemming from an intensifying trade dispute between the U.S. and China. According to a statement from the White House, tariffs on Chinese imports have cumulatively increased to 145%, exacerbating fears of a lengthy trade battle. Although President Trump has instituted a 90-day halt on further tariffs to facilitate negotiations, there remains considerable uncertainty regarding the outcomes of these trade discussions. Concurrently, Japan is dealing with a 10% tariff rate imposed by the U.S. and is preparing to engage in talks with Washington with the aim of securing a mutually beneficial trade deal. The market downturn was led by major companies such as Mitsubishi UFJ, which fell by 3.9%, Sumitomo Mitsui and Toyota Motor, both declining by 4.8%, Fast Retailing dropping by 2%, and Sony Group experiencing a steep decline of 7.4%.
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