Japan's Nikkei falls nearly 4% on slowdown fears as US tariffs take effect

Japan's Nikkei fell 3.9% amid broad sell-off, closing at 31,714.03.

Losses followed renewed trade war fears after U.S. tariffs on China.

Market volatility spiked, with a 6% gain Tuesday after Monday’s slump.

Investors sold off even safe assets as U.S. yields surged in Asia.