Japan’s Nikkei Stock Average fell 2.8% to 33780.58, its lowest level since Aug. 5, as new U.S. tariffs raised uncertainties over the global growth outlook and the Bank of Japan’s rate hike trajectory.
Chip and financial stocks led the declines. Kioxia Holdings dropped 8.8% and Renesas Electronics lost 13%. Mizuho Financial Group shed 11% and Mitsubishi UFJ Financial Group fell 8.5%, as the 10-year Japanese government bond yield fell 20 bps to 1.160%.
Investors are focusing on potential responses from governments around the world to the U.S. tariffs announced earlier this week.
..
