Nikkei 225 Tumbles 3% in Tech-Led Selloff on Inflation Concerns
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Technology stocks pulled Japanese equities lower, mirroring declines in the U.S. as surging commodity prices fueled concern over inflation.
The Nikkei 225 Stock Average slid more than 3% in its worst drop since Feb. 26, with SoftBank Group Corp. and Tokyo Electron Ltd. the largest contributors. Electronics and telecommunications were among the biggest drags on the Topix, with 32 of its 33 industry groups in the red. Panasonic Corp. highlighted stocks that declined after disappointing earnings forecasts.