Stocks in practically all major Japanese video game companies have been torpedoed by US president Donald Trump’s tariffs.

At the time of writing, Sony is down by as much as 13% on the Tokyo Stock Exchange, but Nintendo is following a similar trajectory.

As we publish this, Japan’s Nikkei 225 benchmark is down 6% overall, and it’s a similar story in other Asian countries, like South Korea, Taiwan, and China.

Asia is obviously a big manufacturer of the goods sold globally, so will be hit particularly hard by the American government’s proposed tariffs, which will see items imported into the country subjected to fines of up to 50%.

As many countries acknowledged public holidays towards the tail end of last week, today’s “bloodbath” is considered a recalibration of the markets, as investors catch up to the falls felt worldwide on Friday.

When it comes to gaming specifically, forward-thinking from Sony is expected to shield the PS5 from any price increases temporarily, as it doubled its supply chain and stockpiled inventory prior to the tariffs in order to give itself a buffer.