TOKYO -- Asian equity markets were hit on Tuesday as growing fears of a possible Russian invasion of Ukraine dampened investors' appetite for risk.
Japan's blue-chip Nikkei Stock Average at one point dropped nearly 700 points, or 2.5%, to its lowest intraday level since December 2020 before closing down 1.7% at 27,131. The broader Topix index also fell 1.7%, with shares in a wide range of industries declining sharply. E-commerce giant Rakuten Group and employment services provider Recruit Holdings both lost over 7%.

