TOKYO : Japan’s Nikkei share average tumbled nearly 9 per cent early on Monday, while an index of Japanese bank stocks plunged as much as 17 per cent, as concerns over a tariff-induced global recession continued to rip through markets.
The Nikkei dropped as much as 8.8 per cent to hit 30,792.74 for the first time since October 2023. The index was trading down 7.3 per cent at 31,318.79, as of 0034 GMT.
All 225 component stocks of the index were trading in the red.
The broader Topix sank 8 per cent to 2,284.69.
A topix index of banking shares slumped as much as 17.3 per cent, and was last down 13.2 per cent. The bank index has borne the brunt of the sell-off in Japanese equities, plunging as much as 30 per cent over the past three sessions.
