Japanese stocks plunged by around 5 per cent in the first minutes of trading on Friday, as dealing floors responded to a big overnight fall in US stocks and the yen’s surge to its highest level since October.
Shares in Sony fell by over 9 per cent, Toyota by over 6 per cent and MUFG, Japan’s biggest banking group, by 5.5 per cent in a rout propelled by fears that massive US tariffs on China will prolong market chaos and hasten a global recession.
The yen strengthened 1.2 per cent to…
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