Japan Stocks Plunge Amid Oil-Driven Fears

Japan's Nikkei average fell 5.2% to 52,728.72 on Monday, slipping to a one-month low as a broad selloff hit Tokyo markets. The rout followed a surge in oil prices of more than 25% to the highest levels since mid-2022—driven by supply cuts and the expanding U.S.-Israeli war with Iran—and sent Topix down 3.8%, battered chip and bank stocks, and raised concerns about inflation and corporate profits.