Shares in Nissan Motor slumped as much as 10% in Tokyo trading on Friday after the company said the previous day it will cut 9,000 jobs and 20% of its global manufacturing capacity as it faces struggling sales in China and the United States.

Nissan Motor will cut 9,000 jobs and 20% of its global manufacturing capacity, the automaker said Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the U.

By Shashwat Chauhan (Reuters) -European shares jumped nearly 2% on Wednesday, tracking a rise in U.S. stock futures, as Donald Trump claimed victory in the presidential election and Republicans took control of at least one chamber of Congress.