Japan's Nikkei falls 13.2% in March on Middle East tensions
Business
Japan's main stock index, the Nikkei, dropped a hefty 13.2% in March, its steepest monthly fall since the 2008 financial crisis.
It closed out the month at 51,063.72 after another dip on Tuesday.
The Topix index also slid by 1.26%, with investors feeling uneasy as tensions rose in the Middle East.
Iran tanker attack rattles global markets
The drop wasn't just about Japan: US tech stocks took a hit too after Iran attacked an oil tanker, which rattled markets worldwide and piled on selling pressure.
Some Japanese companies such as Fujikura, Furukawa Electric, and Sumitomo Electric saw big losses (down 6% to 9%), while a few others such as SHIFT and Teijin Ltd. managed to climb slightly.
Analysts say the Nikkei might find support around the 50,000 mark as things settle down.