Nikkei slides 3% as Japanese equities brace for worst week since 2020 on tariff fears

Japanese stocks plummeted to their lowest levels since August, driven by fears of a global recession following US President Donald Trump's tariffs. The Nikkei index dropped 2.6%, while the Topix fell 3.5%. Banking shares led the decline, with Mitsubishi UFJ Financial Group falling 10.3% amid concerns over delayed interest rate hikes and economic growth impact.