Japan's Topix Enters Correction as Hormuz Fears Amplify Caution [Yahoo! Finance]
RENESAS ELECTRON UNSP/ADR (RNECY)
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Source: Yahoo! Finance
(Bloomberg) -- Japanese stocks dropped, with the Topix sliding into a technical correction, as Donald Trump's threats of attacks around the Strait of Hormuz pressured risk appetite while oil prices continued to climb. The Topix index fell 3.4% to 3486.44 Monday, marking a slump of over 10% from its record high reached on Feb. 27. The Nikkei 225 also fell 3.5% to 51,515.49. Tokyo's market was catching up with global benchmarks after a public holiday on Friday. Most Read from Bloomberg Iranian Navy Guided Indian Tanker Through Hormuz, Crew Member Says Super Micro Co-Founder Charged With Smuggling, Departs Board Trump Gives Iran 48 Hours on Hormuz, Threatens Power Plants Iran Says Ready to Let Japan Vessels Use Hormuz, Kyodo Reports Bonds, Stocks Fall as US and Iran Step Up Rhetoric: Markets Wrap Electronics and machinery contributed most to declines on the Topix, while chip-related firms like Renesas Electronics Corp. and Lasertec Corp. were among the Nikkei's worst per
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