Nintendo Shares Slide on Fears of Rising Mideast Shipping Costs

Nintendo Co.’s shares fell the most in almost a month, hurt by fears that rerouted shipments in the wake of US-Israeli strikes on Iran may drive up logistics costs for Europe-bound Switch 2 consoles.

The world’s largest container carriers are rerouting services away from the Suez Canal and sending vessels around the southern tip of Africa, after Houthi militants threatened to restart attacks on cargo ships in the Red Sea with ties to the US and Israel. The move is estimated to add more than 10 days to deliveries.