Japan's Nikkei falls most in a month as US slowdown fears resurface
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Japan's Nikkei share average fell more than 4% on Wednesday, as chip-related stocks followed AI darling Nvidia lower and soft U.S. manufacturing data reignited fears of a hard landing for the economy. The Nikkei closed 4.24% lower at 37,047.61, marking its lowest close since Aug. 15 and biggest decline since Aug. 5. The broader Topix fell 3.65% to 2,633.49. "Today's decline was a reaction to the sharp recovery from the big losses in mid-August," said Tomochika Kitaoka, chief equity strategist at Nomura Securities. "The market has turned cautious about the state of the U.S. economy and will remain cautious until the non-farm payrolls data due on Friday." The Nikkei fell more than 12% to 31,458.42 on Aug. 5 in its biggest decline since Black Monday amid U.S. recession fears and a sharply stronger yen. On Wednesday, a stronger yen also weighed on local equities, many of which are exporters. "What is differe...