The Nikkei 225 fell 2,134.31 points, or 3.16%, to close at 65,326.42 on Aug. 19, while the broader TOPIX dropped 127.91 points to 4,012.31. Selling dominated from the open after a decline in U.S. equities, and the benchmark briefly fell below 66,000 for the first time in six trading days before touching an intraday low of 65,133.98. A slightly firmer yen around 159.20 per dollar added pressure on export-related shares, and weakness in South Korea’s KOSPI reinforced risk aversion across Asian markets. Trading on the Tokyo Stock Exchange Prime Market was heavy, with volume reaching 2.51136 billion shares and value swelling to 10.1151 trillion yen, or about $63.8 billion. Decliners far outnumbered gainers, with 1,155 stocks falling against 362 rising and 39 unchanged at the close, although the breadth improved from the morning session when decliners had topped 1,280. By sector, 31 of 33 industries fell, while pharmaceuticals and shipping stocks were among the few areas that attracted buying, pointing to a shift toward defensive positioning. Among major movers, chip-related, machinery, electric appliance, bank and export-oriented shares came under pressure, including Fujikura, Disco, Mitsubishi Heavy Industries, Hitachi, Tokyo Electron, Mitsubishi UFJ Financial Group and SoftBank Group. Furukawa Electric, Kioxia, Enplas, Pan Pacific International Holdings and Ushio also declined. In contrast, Chugai Pharmaceutical, Daiichi Sankyo, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha advanced. The broader regional backdrop remained weak. South Korea’s KOSPI dropped 398.66 points, or 5.8%, to 6,471.17, while foreign investors sold a net 3.485 trillion won of South Korean equities after five straight sessions of buying. The selloff followed losses on Wall Street driven by rising long-term interest rates and profit-taking in technology stocks, leaving investors focused on U.S. monetary policy, currency moves and the earnings outlook for Japanese companies.