Concerns over turmoil in the Middle East spread against the backdrop of the exchange of attacks between the United States and Iran, and the Nikkei Stock Average fell by more than ¥1,800 at one point. Crude oil futures rose into the $104 range at one point.
The Nikkei Stock Average fell by more than ¥1,900 at one point in today's Tokyo stock market. Market participants are wary of a prolonged deterioration in the situation in the Middle East as the exchange of attacks between the United States and Iran continues.
Views have spread that instability in the Middle East could lead to slower global economic growth and deteriorating corporate earnings outlooks, strengthening investors' risk-averse stance.
Views have also spread that inflation concerns will intensify in this environment, affecting resource prices as well. Crude oil futures rose into the $104 range at one point.