Nippon Steel Corp. slumped the most in four months after a closely watched summit between US President Donald Trump and Japanese Prime Minster Shigeru Ishiba heightened uncertainty over the company’s plan to acquire United States Steel Corp.
The leaders said Nippon Steel may make a significant investment in the US steelmaker instead, surprising investors. Shares in the Japanese firm fell as much as 2.6% in Tokyo on Monday, the biggest intraday drop since Sept. 30, before recovering slightly.
An investment would be a significant shift away from the originally planned buyout. Nippon Steel and US Steel first announced the $14.1 ...
