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Tokyo stocks tumble on escalation

Jiji Press TOKYO (Jiji Press) — Stocks plummeted on the Tokyo Stock Exchange on Friday, amid fear of a trade war escalation between the United States and China ballooning following U.S. President Donald Trump’s announcement of new tariffs on Chinese goods.

The 225-issue Nikkei average lost 453.83 points, or 2.11 percent, to end at 21,087.16, after rising 19.46 points on Thursday.

The TOPIX index of all First Section issues closed down 33.89 points, or 2.16 percent, at 1,533.46. It gained 2.21 points the previous day.

The market opened sharply lower in the wake of an overnight tumble on Wall Street and expanded losses on the yen’s surge against the dollar in the morning, forcing the key Nikkei average to give up more than 500 points to sink below the 21,000 threshold.Speech

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