(9 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Tokyo, Japan – 9 April 2025
1. Wide of electronic board showing the opening of Tokyo Stock Exchange
2. Mid of index and stocks displayed on board
3. Close of Japan’s benchmark stock index Nikkei 225
4. Camera operator filming board showing stock trades
5. Pull focus of stock prices for Japanese automobile companies in green (negative)
6. Tokyo Stock Exchange’s logo and stock trade figures reflected on glass
7. Various exteriors of Tokyo Stock Exchange
STORYLINE:
Japan’s Nikkei 225 index initially lost nearly 4% on opening Wednesday morning as the latest set of U.S. tariffs, including a massive 104% levy on Chinese imports, was due to take effect.
Markets in South Korea, New Zealand and Australia also declined.
The Nikkei 225 in Tokyo fell more than 3.9% before leveling off. About an hour after the market opened it was down 3.5% at 31,847.40.
On Tuesday, the S&P 500 dropped 1.6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February. The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war.
The sharply higher tariffs were scheduled to kick in after midnight Eastern time in the U.S., and investors have no idea what to make of President Donald Trump’s trade war.
The retreat overnight and into early Wednesday in Asia followed rallies for stocks globally earlier in the day, with indexes up 6% in Tokyo, 2.5% in Paris and 1.6% in Shanghai.
Trump’s trade war is an attack on the globalization that’s shaped the world’s economy and helped bring down prices for products on store shelves but also caused manufacturing jobs to leave for other countries. Trump has said he wants to narrow trade deficits, which measure how much more the United States imports from other countries than it sends to them as exports.
AP Video by Mayuko Ono
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