Japan's Nikkei falls 2.63% to 64,473.16 at morning close

  • Japan's Nikkei Stock Average fell 1,742.18 points to 64,473.16 at the morning close.
  • Japan's long-term interest rates rose to 3.015%, the highest level since September 1996.
  • All 33 Tokyo Stock Exchange sectors declined, led by nonferrous metals and transportation equipment.

Japan's Nikkei Stock Average fell 1,742.18 points, or 2.63%, to 64,473.16 by the September 2 morning close after briefly dropping to 64,287. The selloff followed declines in the major U.S. indexes amid weak economic indicators, U.S. Central Command strikes targeting Iran's Revolutionary Guard Corps, and concerns about higher crude oil prices and interest rates. Japan's 10-year government bond yield rose to 3.015%, its highest level since September 1996, while the yen weakened to around 160.306 per dollar. All 33 Tokyo Stock Exchange industry sectors declined, with high-priced semiconductor and technology shares leading losses, while pharmaceutical and domestic-demand stocks attracted some fund rotation. The index remained below its 75-day moving average near 66,600, with investors focused on whether it could hold above 64,000 in afternoon trading.

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