Nikkei 225 index drops 3% to 67,120 points

The Japanese Nikkei 225 index declined by 3% to reach 67,120 points, due to concerns over disruptions to global oil supplies and their impact on the markets. Technology and heavy industries stocks led the declines, while the financial and energy sectors showed some resilience, with certain stocks like Mitsubishi UFJ and Somko posting gains. The Japanese yen is also under pressure against the dollar, driven by rising oil prices and geopolitical tensions, which adds to the challenges facing the Japanese economy amid the gap between yields and US monetary policy.

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