Nikkei

Japan's Nikkei 225 index was up about 1.9%, the Hang Seng in Hong Kong climbed by around 2.4%, while mainland China's Shanghai Composite edged 0.1% higher.

Some 150 of Apple's top 187 suppliers in 2024 had factories in China, according to an analysis by Nikkei Asia.

Coachella’s other opulent dining experience comes courtesy of global Nikkei restaurant chain Nobu, in partnership with Red Bull energy drink.

By midday, Japan's Nikkei 225 benchmark index was down 6%, the ASX 200 in Australia was 4% lower and the Kospi in South Korea was 4.7% lower.

Foreign stocks have also suffered, with the European benchmark Stoxx 600 falling by 2% and Japan's Nikkei slumping by 2.7%.