The Nikkei 225 Index slumped 3.2% to close at 48,703, while the broader Topix Index plunged 2.88% on Tuesday, falling for the third consecutive session as investors sold off tech stocks following Wall Street's sharp decline overnight ahead of the US jobs report and Nvidia's quarterly results.
The Nikkei posted its steepest drop in more than seven months, hitting its lowest level since October 23. Escalating Tokyo–Beijing tensions also pressured sentiment, with retail stocks trading mixed after a sharp fall in the previous session.
Traders closely watched a meeting between Japanese Prime Minister Sanae Takaichi and BoJ Governor Kazuo Ueda, as well as a separate meeting between Takaichi and the government's tax commission after the bell, for signals on the central bank's monetary policy path and the government's fiscal strategy. Among the worst performers were Fujikura (-9.9%), Furukawa Electric (-9.5%), Sumitomo Electric (-9.1%), SoftBank Group (-7.5%), and Tokyo Electron (-5.5%).
Source: Trading Economics
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