Core Points - The Tokyo stock market experienced a decline on October 23, with the Nikkei 225 index falling by 1.35% and the Tokyo Stock Exchange index decreasing by 0.39% [1][2] - The drop was influenced by multiple factors, including a significant decline in the New York stock market and growing concerns over the deteriorating global trade environment [1] - The Nikkei index opened lower by over 400 points and continued to decline, at one point dropping more than 900 points, primarily due to substantial losses in major technology stocks such as SoftBank Group, Advantest, and Tokyo Electron [1][2] Market Performance - By the close of trading, the Nikkei index fell by 666.18 points, ending at 48,641.61 points, while the Tokyo Stock Exchange index decreased by 12.65 points to 3,253.78 points [2] - Among the 33 industry sectors on the Tokyo Stock Exchange, there was a mixed performance, with sectors such as mining, real estate, pulp and paper, and petroleum and coal products showing gains, while information and communication, securities and commodity futures trading, and electrical products sectors led the declines [2]

Group 1 - The core issue is the escalating trade tensions between the US and EU, with President Trump threatening to impose a 30% tariff on EU products starting August 1, 2025, which could severely disrupt transatlantic trade [2][3] - The EU had hoped to negotiate a compromise to maintain a 10% tariff on most products, but the recent US proposals have been significantly higher, leading to a loss of confidence in negotiations [2] - The US has rejected the EU's proposal for a "freeze" on new tariffs, citing national security concerns, which further exacerbates the divide between the two parties [3] Group 2 - Silver prices experienced volatility, with a significant increase of over 2% on July 21, closing at $38.90 per ounce, and reaching a high of $39.03, approaching a multi-year high of $39.11 [4] - Analysts suggest that the decline in US Treasury yields and a general risk-off sentiment have weakened the dollar, contributing to the surge in silver prices [4] - If silver prices break through the annual high of $39.12, the next targets could be $39.50 and $40.00, while a drop below $38.50 may lead to a test of the $37.20 level [4]