Nikkei Crashes 2.7% As $202 Billion Wiped From Japanese Stocks

Japan’s Nikkei 225 plunged 2.53% to close at 64,536.79, erasing roughly ¥31.8 trillion ($202 billion) in market value, one of the region’s steepest single-session losses, driven by a heavy sell-off in tech stocks. The pressure spread across Asia. South Korea’s KOSPI Composite fell 2.41% to close at 6,671.12, weighed down by technology and export-heavy stocks. The declines came even as South Korea’s annual inflation came in at 3.1%, slightly below the 3.2% forecast, offering little relief to sentiment already rattled by the regional tech sell-off.