Tokyo: A rebound rally on Wall Street was halted by worries about a US-China trade war as Japan’s main Nikkei index of shares fell in early trading on Wednesday ( April 9 ).
South Korea’s currency, on the other hand, dropped to its lowest level against the dollar since 2009, while early Asian oil prices dropped by 3 %.
The Nikkei 225 was over just over 3 percent in Tokyo, while the Topix score, which is more inclusive, was down 31 %.
South Korea’s KOSPI, one of the other Asiatic companies, dropped 0.9 percent in earlier deal to 2, 313.69 as of 9:54 a.m. local time. As of 9:13 a.m. native time, Singapore’s top Straits Times Index was over 2.5 percent to 3,383.02.
The Nikkei had recovered 6 % from its previous highs on Tuesday following US President Donald Trump’s statement of massive tariff increases last year.
Wall Street and other Asian and European markets both followed suit, as did Wall Street after three weeks of near-panic marketing.
Hopes of tax agreements between the White House, Japan, and South Korea boosted attitude.
However, after that, US stocks turned south, and all three major indices finished firmly in the red, with the Dow Jones ‘ down 0.8 % and the S&, P 500, down 1.6 %.