Japan’s Nikkei slumps over 3% as fresh Trump tariffs due this week keep investors on edge

Asia-Pacific markets plunged Monday ahead of U.S. President Donald Trump’s fresh round of tariffs expected later in the week.

Japan’s benchmark Nikkei 225 was down 3.85%, after having plunged over 4%, while the broader Topix index lost 3.26%.

Over in South Korea, the Kospi index fell 2.75% while the small-cap Kosdaq declined 2.63%.

Australia’s S&P/ASX 200 was down 1.63%.

Mainland China’s CSI 300 lost 0.67% while Hong Kong’s Hang Seng Index fell 0.78%.

China’s NBS Manufacturing PMI for March came in at 50.5, in line with predictions by economists polled by Reuters and slightly higher than 50.2 reading in the previous month.

Indian markets were closed for a public holiday.

U.S. futures slipped as investors await clarity on Trump’s tariff plans.

Stocks had sold off sharply last Friday, amid growing uncertainty on U.S. trade policy and a bleak inflation outlook.

The Dow Jones Industrial Average closed down 715.80 points, or 1.69%, at 41,583.90. The S&P 500 shed 1.97% to 5,580.94, ending the week down for the fifth time in the last six weeks. The Nasdaq Composite plunged 2.7% to settle at 17,322.99.

Shares of several technology giants dropped, putting pressure on the broader market. Google-parent Alphabet lost 4.9%, while Meta and Amazon each shed 4.3%.

— CNBC’s Pia Singh and Sarah Min contributed to this report.