The Nikkei Average fell sharply as the long-term interest rate rose to 3% again and aversion to higher oil prices and interest rates spread.
Investor sentiment is believed to have deteriorated amid another rise in the long-term interest rate and persistently elevated crude oil prices. The Nikkei Average consequently fell sharply.
Multiple market-moving factors emerged at the same time, prompting market participants to express caution over the combination of rising interest rates and resource price trends.