The Nikkei Stock Average continued to decline in morning trading on the Tokyo Stock Exchange, ending the morning session down ¥1,742 from the previous day at ¥64,473. The decline briefly exceeded ¥1,900.
The Nikkei Average fell sharply for a second consecutive session in Tokyo on the 2nd, dropping ¥1,742 from the previous day to ¥64,473 at the morning close. The decline briefly exceeded ¥1,900.
The backdrop was concern over growing expectations of higher global interest rates, with some observers saying that prospects for accelerating inflation and fiscal expansion had weighed on market sentiment. Asian stock markets broadly declined as a result.
The Nikkei Average had been down more than ¥1,000 since the morning, and the decline widened at around 11 a.m.