Tokyo stocks fell sharply on the 11th against a backdrop of higher oil prices and a weaker yen and stronger dollar. The Nikkei Average fell more than ¥2,000 from the previous day, dropping into the ¥63,000 range.
The Nikkei Average fell more than ¥2,000 from the previous day in Tokyo trading on the 11th, dropping into the ¥63,000 range for the first time in about a week. Selling led the market lower as higher oil prices cooled investor sentiment.
U.S. stock indexes all fell the previous day. WTI futures surged above $100, making higher oil prices a burden on stock markets.
U.S. interest rates rose in response to higher oil prices, prompting selling of stocks. Pressure on U.S. stocks continued.
In the Tokyo foreign exchange market, the yen weakened sharply against the dollar to the mid-¥154 range, trading at ¥154.48-¥154.51 per dollar as of 10 a.m.