Japan's Nikkei falls 2% to track Wall Street's sharp declines
Japan's Nikkei share average dropped 2% to 36,285.01, reflecting significant losses on Wall Street, particularly in technology stocks. The broader Topix index fell 1.86%. Concerns over U.S. economic stability due to tariff disputes and potential government shutdown contributed to the decline. Notable losses included Advantest and Tokyo Electron, while Daikin Industries provided some support with a 1.56% increase.
TOKYO, March 11 (Reuters) - Japan’s Nikkei share average fell 2% on Tuesday, tracking sharp overnight losses of Wall Street, with technology stocks leading the declines.
By 0012 GMT, the Nikkei (.N225) was down 2% at 36,285.01, near its lowest level since September 18.
The broader Topix (.TOPX) fell 1.86% to 2,649.64.
U.S. stocks plunged on Monday as relentless tariff wrangling and mounting anxieties from a possible federal government shutdown gave rise to fears that the U.S. economy could be careening into recession. (.N)
In Japan, chip-related stocks fell, with Advantest (6857.T) and Tokyo Electron (8035.T) slipping 2.86% and 2.82%, respectively. Technology investor SoftBank Group (9984.T) fell 4.19%.
Uniqlo-owner Fast Retailing (9983.T) lost 2.78%.
Air-conditioner maker Daikin Industries (6367.T) rose 1.56% to provide the biggest support to the Nikkei. Soy sauce maker Kikkoman (2801.T) edged up 0.3%.
