Markets: Nikkei falls by three percent - oil prices weigh heavily
The losses at the Wall Street are also causing sales in Tokyo. Meanwhile, the oil price is rising to its highest level since May.
The Japanese stock market fell on Friday due to concerns over potential US interest rate hikes and a significant rise in oil prices. The Nikkei index dropped 3% to 63,244 points, while the Topix index declined 1.95% to 3,976 points. Oil prices surged amid attacks on key shipping routes in the Middle East, with Brent crude rising 1% to $108.68 per barrel and US crude WTI increasing 1% to $103.45 per barrel. Both indices were on track for a nearly 13% weekly gain, their first time above $100 per barrel since mid-May.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Börse Asien: Nikkei fällt um drei Prozent – Ölpreise belasten handelsblatt.com
