The Nikkei Stock Average closed at ¥64,325, down ¥1,889 from the previous day. The decline widened during the day, briefly approaching 2,000 points. The move was affected by long-term interest rates rising into the 3% range, growing concern over the situation in the Middle East and rising crude oil futures prices.
The Nikkei Stock Average fell sharply, closing on the 2nd at ¥64,325, down ¥1,889 from the previous day. The decline progressed from the start of trading and widened in the afternoon. During the day, the index at one point approached a decline of 2,000 points.
The factors behind the move included long-term interest rates rising into the 3% range, as well as growing concern over the situation in the Middle East, which pushed up crude oil futures prices. Market participants said the market will need to be assessed on the assumption that tensions in the Middle East will persist and that high interest rates will continue.