Nikkei Sinks below 34,000 amid Global Sell-Off over Trump Tariffs

Tokyo, April 4 (Jiji Press)--Tokyo stocks sank further on Friday amid a global sell-off triggered by U.S. President Donald Trump's announcement of reciprocal tariffs, sending the benchmark Nikkei 225 average below 34,000 for the first time since Aug. 5 last year.

The Nikkei average plunged 955.35 points, or 2.75 pct, from the previous day to close at 33,780.58, a day after diving 989.94 points. The broader TOPIX index slumped 86.55 points, or 3.37 pct, to 2,482.06 after losing 81.68 points the previous day.

The Tokyo market suffered a second day of rout after U.S. stocks fell "more than expected" overnight amid fears that the Trump tariffs could lead to an economic slowdown, an official at a midsize brokerage firm said.

As investors fled to safety, the bond market attracted hefty buying, with the benchmark 10-year Japanese government bond yield sliding to a three-month low of 1.160 pct.

The safe-haven yen also surged against the dollar. At 4 p.m., the dollar stood at 146.02-03 yen, down from 147.25-26 yen at 5 p.m. Thursday. The greenback dropped as low as around 145.20 yen in New York trading overnight.

[Copyright The Jiji Press, Ltd.]