Global Market: Japan’s Nikkei falls 2% as tech selloff, rising oil prices fuel inflation fears

Japan’s Nikkei index fell 2% as Japanese equities faced pressure following losses on Wall Street on Friday. The decline came amid a broader technology selloff and rising oil prices, which fueled concerns about inflation.

Wall Street Losses Weigh on Japanese Equities

The retreat in Japanese stocks followed weakness in U.S. markets, linking the session’s decline to the losses recorded on Wall Street. The move placed pressure on Japanese equities as market attention focused on developments in technology shares and energy prices.

Technology and Oil Add to Market Concerns

Technology stocks were among the factors behind the market pressure, with a selloff contributing to the Nikkei’s decline. At the same time, higher oil prices increased inflation fears, adding another source of concern for global markets.

The combination of Wall Street losses, weakness in technology stocks and rising oil prices shaped the session for Japanese equities. The Nikkei’s 2% drop reflects the pressure facing the market as these concerns weigh on sentiment.