TOKYO -- A sharp rise in Italian bond yields on Wednesday shook global financial markets. Investor anxiety over holding risky assets first emerged in Europe before spreading to the U.S. and subsequently Asia.
The reaction was most pronounced in the stock market. The Tokyo Stock Exchange ended morning trading with a clear drop as the benchmark Nikkei 225 Index fell by 400 points, or 1.8%, to 21,958 yen.
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