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Nikkei drops hard as tech stocks tumble
Business
Japan's Nikkei index just had its worst day in over seven months, falling 3% on Tuesday.
The big drop came after tech stocks took a hit, following losses on Wall Street.
The Topix index also slid 2.49%, showing that the selloff was pretty widespread.
Tech and retail shares feel the pain
Tech giants like SoftBank Group plunged 7.2%, while chipmakers Tokyo Electron and Advantest dropped over 5% and about 3.6%.
Fiber optic makers Fujikura and Sumitomo Electric also saw sharp losses.
Retailers weren't spared either—Muji's parent company slipped 1.09% in the current session after a major drop in the previous session, which followed China issuing a travel advisory against Japan, adding extra pressure to the market.