TOKYO, April 7 (Reuters) - Japan's Nikkei share average

tumbled nearly 9% early on Monday, while an index of Japanese

bank stocks plunged as much as 17%, as concerns over a

tariff-induced global recession continued to rip through

markets.

The Nikkei dropped as much as 8.8% to hit 30,792.74

for the first time since October 2023. The index was trading

down 7.3% at 31,318.79, as of 0034 GMT.

All 225 component stocks of the index were trading in the

red.

The broader Topix sank 8% to 2,284.69.

A topix index of banking shares slumped as much

as 17.3%, and was last down 13.2%. The bank index has borne the

brunt of the sell-off in Japanese equities, plunging as much as

30% over the past three sessions.