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Nikkei index closes down over fears Russia may invade Ukraine

Japanese benchmark recovers some losses as efforts ramp up to prevent conflict

A view of the Tokyo Stock Exchange. Japan's benchmark index closed lower on Feb. 21 as investors worried about the situation surrounding Ukraine.   © Reuters

TOKYO -- Japanese stocks closed lower on Monday after paring early losses of more than 2% as investors continue to fret over a possible Russian invasion of Ukraine.

Stocks moved across numerous sectors, including electronics, automobile, technology and retail, while the Japanese yen strengthened slightly against the greenback during early morning trade as investors moved toward safe havens. The price of yen-denominated gold futures also rose to a record high. 

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