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Nikkei Falls 1.8%, Tracking Wall Street's Losses
The Nikkei index has dropped 1.8% in early trading, reflecting the ongoing negative sentiment in the U.S. technology sector and its spillover effects into Asian markets. Commerzbank highlights this selloff as a continuation of recent trends, indicating pronounced risk aversion globally. The yen is typically seen as a safe haven during such equity declines, reinforcing its bullish sentiment in the FX space. This environment could further pressure risk-sensitive assets, driving investors to seek refuge in the JPY.