TOKYO (dpa-AFX) - The Japanese stock market turned lower again on Wednesday, one day after snapping the three-day losing streak in which it had plunged more than 4,300 points or 6.5 percent. The Nikkei 225 sits just beneath the 64,180-point plateau and it's tipped to open under water again on Thursday.
The global forecast for the Asian markets is weak on further escalating tensions in the Middle East. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.
The Nikkei finished sharply lower on Wednesday following losses from the financial shares, automobile producers and technology stocks.
For the day, the index tumbled 1,237.36 points or 1.89 percent to finish at 64,179.27 after trading between 63,733.04 and 65,098.86.
Among the actives, Nissan Motor tumbled 3.00 percent, while Mazda Motor retreated 2.54 percent, Toyota Motor fell 0.57 percent, Honda Motor shed 0.48 percent, Softbank Group plummeted 8.33 percent, Mitsubishi UFJ Financial perked 0.09 percent, Mizuho Financial dropped 0.99 percent, Sumitomo Mitsui Financial collected 0.73 percent, Mitsubishi Electric plunged 4.24 percent, Sony Group contracted 1.68 percent, Panasonic Holdings tanked 4.28 percent and Hitachi slumped 2.01 percent.
The lead from Wall Street is broadly negative as the major averages opened lower and continued trend deeper into the red as the day progressed, ending at session lows.
The Dow tumbled 953.33 points or 1.87 percent to finish at 49,918.78, while the NASDAQ tanked 509.32 points or 1.98 percent to end at 25,169.50 and the S&P 500 slumped 119.66 points or 1.62 percent.
The weakness that emerged on Wall Street came as President Donald Trump ramped up his threats against Iran following a recent exchange of attacks.
Trump's latest threats came after U.S. Central Command said forces completed 'self-defense strikes' against Iran on Tuesday at the president's direction in response to the downing of a U.S. helicopter.
In economic news, the Labor Department reported that consumer prices in the U.S. increased in line with estimates in May. Core consumer price growth also matches expectations.
Crude oil prices surged Wednesday on concerns about the gulf conflict intensifying further after the U.S. and Iran resumed attacks, keeping the Strait of Hormuz closed. West Texas Intermediate crude for July delivery was up $2.26 or 2.56 percent at $90.46 per barrel.
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