TOKYO — Asia-Pacific stocks fell sharply on Monday amid a global market rout caused by an intensifying U.S. trade war, reminding some traders of a similar slide at the outset of the COVID-19 pandemic.
Japan’s Nikkei Stock Average nosedived 7.8% and closed at 31,136.58, its lowest finish since October 2023. It recorded the third-largest point drop in its history and its 11th-biggest percentage decline in a single day. The index has sunk around 22% since its Janu peak. The broader Tokyo Stock Price Index (Topix) also closed down 7.8% at 2,288.66.
