Asian stocks hit amid rising Russia-Ukraine tensions

Expected Fed tightening also weighing on equities

20220125  Ukraine and Stock Market

Asian equity markets dropped on Tuesday as fears Russia could invade Ukraine overshadowed the global economy. (Source photos by European Press/AP and AP) 

RURIKA IMAHASHI, Nikkei staff writer

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%.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.