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 bellwether Nikkei Stock Average nosedived 8.8% to 30,792.74, hitting the lowest intraday level since October 2023. It sank around 23% from its Janu peak. The broader Tokyo Stock Price Index (Topix) dropped as low as 2,243.21, losing 9.6%.
