The Nikkei Average plunged more than ¥2,100 at one point, falling below ¥66,000. Selling was pronounced in AI and semiconductor-related stocks, while concerns over higher oil prices and rising interest rates, driven by tensions in the Middle East, weighed on the market.
The Nikkei Average fell more than ¥2,100 at one point, dipping below ¥66,000. Selling has spread mainly across AI and semiconductor-related stocks.
As trading progressed following the sharp decline, expectations grew that the global trend of rising interest rates would continue amid persistently high oil prices and growing concerns over inflation.
In the previous session, selling led the U.S. market lower, particularly among stocks vulnerable to rising interest rates, and that trend has spread to the Nikkei market.