Nikkei 225 Drops as Oil Prices Surge on Iran Tensions

The Nikkei 225 Index fell 1.53 percent to 61,944.86 on Friday, driven by volatility in global markets and geopolitical instability. The decline followed a sharp downturn on Wall Street, where the Nasdaq dropped 2.6 percent to its lowest closing level in more than a month.

Technology and financial stocks bore the brunt of the losses in Japan. SoftBank Group, Mizuho Financial, and Resona Holdings each saw their shares drop by 6 percent or more, though Fast Retailing and Sapporo Holdings recorded gains. Simultaneously, crude oil prices surged following reports that the United States and Israel are planning a joint military operation against Iran after the November U.S. midterm elections.

In domestic economic news, the Ministry of Internal Affairs and Communications reported that Japan's overall consumer prices rose 2.1 percent year-on-year in September, a figure that aligned with market expectations.