Japanese shares slid the most in 12 weeks as the yen strengthened after U.S. President Donald Trump threatened to slap tariffs on another $200 billion in Chinese imports.
Topix index -1.6% to 1,743.92 as of the close in Tokyo, the worst drop since March 23. Nikkei 225 -1.8% to 22,278.48. Yen +0.9% at 109.61 versus dollar.
Chemical companies and electronics makers dragged down the Topix index. S&P 500 futures fell more than 1 percent, while the yen rose the most in three weeks against the dollar. Trump said he has directed the U.S. Trade Representative to identify more Chinese imports for additional tariffs at a rate of 10 percent. China said it would retaliate with “strong” counter measures. The Shanghai Composite Index sank 4 percent.