Tokyo
Tokyo’s key Nikkei index tumbled four percent at the close on Friday after a rout on Wall Street as rising bond yields in the United States and elsewhere stoked inflation fears.
The Nikkei gave up 3.99 percent, or 1,202.26 points, to 28,966.01, marking its largest fall since June 2016.
The broader Topix index dropped 3.21 percent, or 61.74 points, to 1,864.49.
“Equities are starting to quiver on the outlook for higher rates with losses led by the tech sector,” said Tapas Strickland, senior analyst at National Australia Bank.
SMBC Nikko Securities said “rapid surge of the US yield heightened the sense of caution and triggered selling across the board.”
“Falls did not stop in the afternoon session and the market ended at the day’s low,” the brokerage said.—AFP
