URGENT: Nikkei opens sharply lower, briefly drops over 2%

Economy

The Nikkei benchmark opened sharply lower Wednesday, dropping over 2 percent at one point, following large overnight falls on Wall Street led by big-name technology firms. The selling was triggered by a recent rapid rise in the 10-year U.S. Treasury yield, which briefly rose overnight to 1.56 percent, its highest level since mid-June. Higher bond yields make riskier stocks less attractive. The Tokyo market was also weighed by investors selling some shares after securing rights to dividend payments.

Kyodo News

Kyodo News