The Nikkei Stock Average fell sharply after WTI topped $100 for the first time in three and a half months. It opened about ¥1,000 lower on the morning of the 11th and then extended its losses, at one point falling more than ¥2,000. Declines in U.S. stocks and rising long-term interest rates are sending repercussions through to the Japanese market.
The Nikkei Stock Average fell sharply after crude oil futures prices in the New York market topped $100 a barrel for the first time in three and a half months. It opened about ¥1,000 lower on the morning of the 11th and then extended its losses, at one point falling more than ¥2,000 from the 10th.
The Nikkei Stock Average was reported to have fallen below ¥64,000 for the first time in about a week. Against the backdrop of higher crude oil prices, declines in U.S. stock indexes are also affecting the Japanese market.
Concerns that fighting between the United States and Iran could be prolonged have been cited as a factor behind higher crude oil prices, with WTI futures prices rising. Against this backdrop, all 3 major U.S. stock indexes fell, sending repercussions through to the Japanese market.
In the domestic market, long-term interest rates are again nearing 3%, and rising interest rates are reportedly also affecting the bond market.