Asian markets sink as Trump admits ‘transition cost’ of tariffs – business live

News Snapshot:

From 1h ago 21.27 EDT Nikkei plummets over 5% Japan’s Nikkei has now tumbled more than 5% while gold hit another record high as continuing tariff jitters hit Asian stocks in early trade on Friday. The Nikkei 225 benchmark index was off 5.4%, having jumped 9.1% on Thursday after Donald Trump’s 90-day tariff reprieve. Other markets also reversed many of the previous day’s gains, with South Korea’s Kospi in Seoul off 1.64% and, as just posted, Australia down more than 2%. Oil and the dollar also slid on fears of a global slowdown in economic activity, while gold hit a...