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Surging energy prices hit Asian stock markets

Drop follows decline in U.S. stocks as inflationary fears gain traction

Tokyo shares fell sharply on Oct. 5 following a sell-off in the U.S. and concerns over rising energy prices. (Photo by Tetsuya Kitayama)

TOKYO -- Surging energy prices are weighing on Asian equity markets as signs of inflationary pressure dampen global investors' appetite.

Japan's blue-chip Nikkei Stock Average dropped over 980 points, or 3.5%, at one point on Tuesday morning, before closing down 2% at its lowest point in over a month.

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