The Nikkei plunged 4.81% and TOPIX fell 2.52%. Selling in semiconductor-related stocks was the primary cause of the decline, while deteriorating investor sentiment and increased risk aversion are weighing on the market.
The Nikkei fell sharply by 4.81% and TOPIX by 2.52%, with index news using descriptions such as a decline of more than ¥3,000 and 6 consecutive days of losses. Selling in semiconductor-related stocks is cited as a factor behind the decline, while the contribution of technology stocks increased market volatility.
Selling in semiconductor-related stocks has been identified as the primary cause, and movements in technology stocks intensified the turmoil across the market. The deterioration in investor sentiment is expected to potentially spread to a broad range of stocks.
This is a phase in which margin positions and short-term funds are more likely to be unwound, and the risk that the decline will spread to other sectors through sympathy selling has been noted. Caution is spreading across the market.
Yahoo! Finance index information and stock news are cited as supporting sources.