BANGKOK (AP) — Japan’s share benchmark nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump's tariff hikes.
Tokyo’s Nikkei 225 index lost nearly 8% shortly after the market opened and Australia’s S&P/ASX 200 tumbled more than 6%.
South Korea’s Kospi lost 4.4%.
U.S. futures signaled further weakness. The future for the S&P 500 lost 4.2% while that for the Dow Jones Industrial Average shed 3.5%. The future for the Nasdaq lost 5.3%.
On Friday, Wall Street’s worst crisis since COVID slammed into a higher gear. The S&P 500 plummeted 6% and the Dow plunged 5.5%. The Nasdaq composite dropped 5.8%.
The losses came after China matched President Donald Trump’s big raise in tariffs announced earlier this week.