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Asian markets plunge as Japan’s Nikkei 225 index dives nearly 8% after the big meltdown on Wall St

BANGKOK (AP) — Japan’s share benchmark nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump’s tariff hikes.

Tokyo’s Nikkei 225 index lost nearly 8% shortly after the market opened and Australia’s S&P/ASX 200 tumbled more than 6%.

South Korea’s Kospi lost 4.4%.

U.S. futures signaled further weakness. The future for the S&P 500 lost 4.2% while that for the Dow Jones Industrial Average shed 3.5%. The future for the Nasdaq lost 5.3%.

On Friday, Wall Street’s worst crisis since COVID slammed into a higher gear. The S&P 500 plummeted 6% and the Dow plunged 5.5%. The Nasdaq composite dropped 5.8%.