Japanese financial markets were hit hard Thursday by higher oil prices and the prospect of war in the Middle East dragging on and continuing to threaten economic growth.
The yen traded at levels last seen in July 2024, while Japanese government bond yields rose to 29-year highs. Bond prices move inversely to yields. Stocks also fell, with the Nikkei 225 stock average ending the day down more than 1%.
Uncertainties in the Middle East drove investors to the safe haven of the dollar and drove up energy prices.
AloJapan.com