Japan's Nikkei Leads Big Losses In Asian Markets As Gold Hits Record

Tokyo's Nikkei plunged more than four percent at one point as it led more losses across Asian markets (Credit: AFP)

Tokyo led another plunge across Asian markets Monday while gold hit a record high as investors steel themselves for a wave of US tariffs this week that has fuelled recession fears.

Equities across the planet have been hammered in recent weeks ahead of Donald Trump's "Liberation Day" on April 2, when his administration will unveil a series of levies against friend and foe alike, citing what he says are unfair trading practices.