- Asian markets fall after Wall Street sell-off, with Japan’s Nikkei 225 leading losses.
- Japanese government bond yields fell, with the yield on the benchmark 10-year JGB falling below the 1% mark and hitting its lowest level since June 20.
Japan’s benchmark indexes nosedived as much as 5% on Friday, with most Asia-Pacific markets lower after a sell-off on Wall Street overnight over recession worries.
The Nikkei extended its 2.62% slide on Thursday to lead losses in the region and reach its lowest level since February.
Both the Nikkei and Topix pared losses later in the session and were last trading at 4.29% and 4.36%, respectively.
Some heavyweight names that are seeing losses include Softbank Group,
which tumbled over 5%. Trading houses Mitsui
and Marubeni
saw losses of over 8% and 6%, respectively. Semiconductor firm Tokyo Electron was down over 9%.