Selling intensified immediately after the Tokyo stock market opened today, and the Nikkei Average fell sharply by more than ¥2,100 at one point. Risk-averse selling was reported to have spread against a backdrop of uncertainty over the situation in the Middle East and rising long-term interest rates.
Selling dominated the Tokyo market today immediately after the open, with the Nikkei Average falling more than ¥2,100 at one point. News reports indicated that the market move was particularly pronounced at the start of trading, with large sell orders emerging early.
Uncertainty over the situation in the Middle East and rising long-term interest rates were cited as factors behind the decline in the index, prompting investors to sell to avoid risk. The Nikkei Average's decline widened, reflecting selling pressure across the broader market.
By stock, selling spread across semiconductor-related stocks, and some reports indicated that selling was concentrated in groups of technology-related stocks. This was said to have accelerated the overall decline further.