Japan's Nikkei plunges 4% as chip stocks track tech selloff
Japan’s Nikkei share average tumbled more than 4% on Tuesday to its lowest level in two months, dragged down by heavy losses in chip-related stocks as investors turned cautious ahead of major technology companies’ earnings reports.
The Nikkei fell 4.34% to 62,112.91 by 0223 GMT, while the broader Topix index declined 2.76% to 3,953.88.
The sharp decline was led by artificial intelligence-related stocks, which extended losses after a selloff in U.S. technology shares. However, market participants viewed the weakness as a correction in high-flying technology names rather than a reflection of Japan’s broader economic outlook.
The Nikkei fell 4.34% to 62,112.91 by 0223 GMT, while the broader Topix index declined 2.76% to 3,953.88.
The sharp decline was led by artificial intelligence-related stocks, which extended losses after a selloff in U.S. technology shares. However, market participants viewed the weakness as a correction in high-flying technology names rather than a reflection of Japan’s broader economic outlook.
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