Japan takes main hit of Washington's economic maneuvers

The global markets also suffered from Washington's escalation of trade tensions with China. However, it was Japan's market that sustained the most severe blow. The Nikkei index closed with a decline of 2.6%, marking the largest single-day drop in the past six months.

Shares of local companies and organizations also experienced significant losses: SoftBank Group fell by over 6 percent, while Advantest, a leading Japanese manufacturer of automatic testing equipment, lost nearly 5 percent.

Amid this turmoil, investors worldwide turned to gold as a safe haven for their capital, driving the precious metal's price up to $4,200 per ounce.