TOKYO (dpa-AFX) - The Japanese stock market has moved lower in three straight sessions, sinking more than 750 points or 1.4 percent along the way. The Nikkei 225 now sits just above the 53,580-point plateau and it may take further damage again on Tuesday.
The global forecast for the Asian markets is negative thanks to ongoing geopolitical concerns. The European markets were down and the U.S. markets were closed and the Asian bourses are also likely to open under water.
The Nikkei finished modestly higher on Monday following losses from the automobile producers and mixed performances from the financial shares and technology stocks.
For the day, the index tumbled 352.60 points or 0.65 percent to finish at 53,583.60 after trading between 53,091.45 and 53,936.17.
Among the actives, Nissan Motor stumbled 2.53 percent, while Mazda Motor tanked 2.56 percent, Toyota Motor retreated 1.28 percent, Honda Motor shed 0.52 percent, Softbank Group sank 0.70 percent, Mitsubishi UFJ Financial declined 1.24 percent, Mizuho Financial perked 0.10 percent, Sumitomo Mitsui Financial collected 0.80 percent, Sony Group tumbled 1.87 percent, Panasonic Holdings surged 4.93 percent, Hitachi added 0.29 percent and Mitsubishi Electric was unchanged.
The U.S. markets were closed on Monday for Martin Luther King Jr. Day, while the European markets spent the entire session in the red amid rising geopolitical tensions after U.S. President Donald Trump doubled down on his plan to acquire Greenland.
Trump said NATO had warned Denmark for years about the 'Russian threat' to Greenland and claimed Copenhagen had failed to act. 'Now it is time, and it will be done!!!' Trump wrote in a post on his Truth Social platform ahead of this week's World Economic Forum Annual Meeting in Davos.
Also weighing on stocks was Trump's announcement of a 10 percent tariff on several EU countries from next month, which raises the tariff on all imports to the U.S. to 25 percent.
Reports suggest that the EU is considering a retaliatory move that would place tariffs on 93 billion euros of U.S. goods or restrict U.S. firms' access to its internal market.
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