TOKYO, April 3 — The Nikkei Stock index tumbled more than 4 percent early Thursday after US President Donald Trump unveiled reciprocal tariffs, with Japan hit with a levy of 24 percent.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 1,435.35 points, or 4.02 percent, from Wednesday to 34,290.52, Kyodo News reported.
The broader Topix index was down 106.08 points, or 4.00 percent, at 2,544.21.
All sectors lost ground on the top-tier Prime Market, led by bank, securities house, and nonferrous metal issues.
The US dollar briefly dropped by more than 2 yen to the upper 147-yen range in Tokyo as the yen, seen as a safe-haven asset, attracted buying after Trump’s announcement.
At 9 am (local time), the dollar fetched 147.88-89 yen compared with 149.30-40 yen in New York and 149.65-67 yen in Tokyo at 5 pm Wednesday.
The euro was quoted at US$1.0902-0905 and 161.22-24 yen against US$1.0843-0853 and 162.10-20 yen in New York and US$1.0791-0792 and 161.49-53 yen in Tokyo late Wednesday afternoon. — Bernama-Kyodo