Nikkei Falls 2.5%, Dragged by Tech, Electronics Stocks

Japanese stocks fall sharply, dragged by weakness in tech and electronics stocks, on growing concerns about rising inflation and higher borrowing costs. SoftBank Group falls 7.8% following the selloff in U.S. stocks on Wednesday. NEC Corp. loses 14% after it projects a 55% drop for its fiscal-year net profit. Nikkei Stock Average drops 2.5% to 27448.01.

The 10-year Japanese government bond yield rises one basis point to 0.085%. Earnings remain in focus as the season winds down in coming days. USD/JPY is at 109.66, little changed from 109.70 as of Wednesday 5 p.m. Eastern Time.

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