By Junko Fujita and Kevin Buckland TOKYO (Reuters) -Heading into the most consequential Japanese upper house election in memory and a possible defeat for the coalition of Prime Minister Shigeru Ishiba,

Exit polls suggest a major loss for the Liberal Democratic Party in parliamentary elections, but Prime Minister Shigeru Ishiba is vowing to stay on.

“It’s possible Japan might experience its own triple whammy of market turmoil, perhaps a Japanese version of the ‘Trump crisis’ that occurred in April,” said Hideo Kumano, an economist at Dai-Ichi Life Research Institute, referring to a simultaneous fall of stocks, currencies and bonds.

Japanese Yen braces for tariff deadline and BoJ rate clues as US-Japan trade talks resume. USD/JPY eyes 149.35 on Fed commentary and risk sentiment.

Japan's shaky minority government is poised for another setback in an upper house vote on Sunday, an outcome that could jolt investor confidence in the world's fourth largest economy and complicate tariff talks with the United States.

Trump's call for a minimum 15-20% tariff on imports from the European Union, as reported by the Financial Times, is a reminder that global trade tensions are still alive and could yet hit growth and fuel inflation.

Opinion polls suggest Ishiba’s Liberal Democratic Party may fall short of a majority in Upper House elections.

Asian shares and the yen held their ground on Monday as Japanese elections proved bad for the government but no worse than already priced in, while Wall Street futures braced for earnings from the first of the tech giants.