Nikkei Hits 8-Month Low below 35,000 as Trump Tariffs Weigh

   Tokyo, April 3 (Jiji Press)--Japan's benchmark Nikkei 225 stock average closed below 35,000 for the first time in about eight months on Thursday, after U.S. President Donald Trump announced reciprocal tariffs including a 24 pct levy on imports from Japan.
   The tariff announcement also briefly sent the dollar to a three-week low below 147 yen, while the benchmark 10-year Japanese government bond yield hit a one-month low of 1.325 pct.
   The Nikkei average plunged 989.94 points, or 2.77 pct, from the previous day to close at 34,735.93, its lowest finish since Aug. 6 last year, after losing more than 1,600 points at one point. The broader TOPIX index slid 81.68 points, or 3.08 pct, to 2,568.61.
   At 5 p.m., the dollar stood at 147.25-26 yen, down from 149.65-65 yen at the same time Wednesday. The euro was at 1.0970-0971 dollars, up from 1.0791-0792 dollars, and at 161.54-56 yen, slightly up from 161.49-51 yen.
   Stocks were broadly hit by risk-off selling, with banks particularly hard hit. The economic outlook deteriorated as the 24 pct tariff on Japan was "harsher than assumed," said an official at a domestic asset management firm.

(2025/04/03-16:28)

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