The Nikkei average plummeted throughout the morning, initially falling 1,100 points before deepening to over 1,500 points by midday. The decline pushed the index below 36,000 yen amid what markets labeled "Trump tariff recession" fears, continuing the financial anxiety that began with Trump's auto tariff announcement last week.

The Myanmar earthquake death toll surpassed 2,000 as rescue hopes faded three days after the disaster. Reports indicated the military continued bombing operations despite the humanitarian crisis, complicating aid delivery efforts documented by Nikkei Asia.

Japan's parliament enacted the FY2025 budget after a rare revision process, reflecting Prime Minister Ishiba's reversal on medical cost increases. Meanwhile, a government study warned the Nankai Trough megaquake could kill up to 298,000 people despite a 10% reduction in estimated casualties through mitigation measures.

Fuji TV's president issued an apology following a third-party committee report on workplace sexual violence.