Japan’s Nikkei average fell 5% in early trading on Friday, tracking sharp declines on Wall Street amid concerns about uncertainty over the economic impact the trade war could have.
The Nikkei fell 5.1% to 32,855.56 as of 00:12 GMT. The broader Topix fell 4.7% to 2,419.32.
All three major U.S. stock indexes fell sharply overnight, giving up most of the previous session’s gains, as growing concerns over Washington’s escalating trade standoff with Beijing dampened optimism about upbeat economic data and U.S.-EU trade talks.
The Nikkei rose 9% on Thursday after U.S. President Donald Trump announced an immediate 90-day suspension of tariffs on many countries.
Shares of Uniqlo brand owner Fast Retailing fell 3.87% on Friday. Chip-related stocks Tokyo Electron and Advantest fell 5% and 7.5%, respectively.
All 33 industry sub-indexes on the Tokyo Stock Exchange fell, with refining stocks down 6.6%, the worst performer.
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