Japanese Stocks Tumble After Oil Talks Deadlock as Yen Advances
- Insurers, Sony, Toyota drop in wake of deadly earthquake
- Apple suppliers decline on report that iPhone sales slow
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Japanese stocks tumbled by the most in two weeks after talks between OPEC members and other oil producers ended without any agreement on limiting supplies, while the yen gained after the Group of 20 finance ministers signaled opposition to curbing the currency’s strength.
Energy stocks fell as crude futures sank. Insurers were the largest losers in the wake of Thursday’s earthquake and strong aftershocks Saturday that pushed the death toll higher. Companies that halted some production after the quake also dropped, including Sony Corp., which lost 6.8 percent.