Japan's Nikkei snaps winning streak, falls over 1%
Japan's Nikkei 225 index dropped 1.07% on Friday, snapping a short winning streak.
The fall comes as worries grow over US-Iran tensions and the chance of higher US interest rates if inflation sticks around.
More stocks fell than rose in Tokyo, showing investors are playing it safe.
Investors are on edge due to global economic uncertainties
Global uncertainty is making markets jittery, and Japan isn't immune.
The Fed hinting at possible rate hikes, along with geopolitical tensions and stress in private equity, has made investors extra cautious ahead of key US economic updates.
Sumitomo Pharma tanks nearly 16% after recent gains
Tech and banking stocks led the slide—Tokyo Electron lost 3.5%, SoftBank dropped 3.3%, while major banks like Mitsubishi UFJ and Mizuho both slipped over 2%.
Sumitomo Pharma also tumbled nearly 16% after a big run-up on good news about its new therapy approval.