Trump's sweeping tariffs rattle Asian markets; Japan, Vietnam stocks tumble

Yen surges to 146 level per dollar on safe-haven flows

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One market analyst wonders if history will repeat itself, citing Donald Trump's first term in the White House, when the U.S. stock market shed 24% of its value. (Photo by Akira Kodaka)

LISA KIM and JADA NAGUMO

TOKYO -- Asian stocks declined on Thursday, led by losses in Japan and Vietnam, after U.S. President Donald Trump plowed ahead with harsher-than-expected tariffs despite warnings they would dent global growth.

"The tariffs were worse than expected ... corporate Japan's profits will likely be hit hard, which makes it difficult to say that Japanese stocks are being oversold," said Hiroshi Matsumoto, senior fellow at Pictet Japan.

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