Nikkei Tumbles to 7-Month Low amid Stagflation Fears

Tokyo, March 31 (Jiji Press)--Tokyo stocks fell almost across the board on Monday, amid growing concerns that U.S. President Donald Trump's tariff policy might lead to stagflation.

The Nikkei 225 stock average plunged 1,502.77 points, or 4.04 pct, from Friday to close at 35,617.56, its lowest finish since Aug. 9 last year. The broader TOPIX index closed down 98.52 points, or 3.57 pct, at 2,658.73, an unseen level since Nov. 1.

In fiscal 2024, which ends on the day, the Nikkei shed 4,751.88 points, or 11.77 pct, while TOPIX lost 109.89 points, or 3.97 pct.

All but one of the Nikkei's 225 component issues fell on Monday, after U.S. stocks slid Friday amid economic worries fueled by data, including the U.S. personal consumption expenditures price index for February, which suggested persistent inflation.

The Tokyo market was particularly dragged down by semiconductor-related stocks.

[Copyright The Jiji Press, Ltd.]