The Nikkei Average ended the morning session down more than ¥700, falling as low as ¥63,917.43 during the day. Nasdaq futures are trading down more than 1%.
The Nikkei Average fell more than ¥700 in Tokyo trading, ending the morning session at ¥63,917.43. The Korea Composite Stock Price Index is also trading around -2.22%. Risk aversion has consequently spread across the broader market. Nasdaq futures are down more than 1%, standing out as a move contrary to the strength seen in US equities.
Factors weighing on market sentiment include reports that Tesla has cut its capital investment plan for this year, as well as rising crude oil futures amid renewed concerns about the Middle East. Reports indicate that the United States and Iran may be considering large-scale attacks following the US midterm elections, while the stepped-up military exercises by US and Israeli forces have also been cited as a contributing factor.