Japan’s Nikkei Enters Correction as Oil Spikes, Iran Fears Weigh

Japan’s Nikkei 225 stock gauge plunged the most since April’s tariff rout as climbing oil prices and mounting Middle East tensions clouded the nation’s economic outlook.

The blue-chip benchmark lost 5.2% Monday to close at 52,728.72, marking a more than 10% decline from its record high in late February and entering a technical correction. The broader Topix fell 3.8% to 3,575.84. Economically-sensitive sectors like tech and banks were among the biggest losers, with SoftBank Group Corp and Advantest Corp plummeting more than 9%.