Japan stocks sink 3% on global tensions
U.S. stock futures were seeing red on Friday as stocks in Japan traded sharply lower.
Jitters over the crises in Iraq and Ukraine appeared to be denting investor sentiment.
Japan’s Nikkei 225 index led Asian declines, sliding almost 3% to 14,778.37.
Japanese stocks declined as the geopolitical tensions spurred buying in the yen, seen as a safe haven currency. A stronger yen makes Japanese stocks pricier for overseas investors.
Shares in Europe also saw steep declines. Germany’s DAX index fell 1.2%.
In early-morning Wall Street futures activity the Dow fell 0.4%, the S&P 500 was off 0.7% and the Nasdaq declined 0.8%.
Investors fretted about the effect of Russia’s decision to retaliate against sanctions over the Ukraine crisis with a ban on food imports from the West.
Meanwhile, President Obama authorized U.S. airstrikes in northern Iraq, warning they would be launched to defend American troops and civilians under siege from Islamic State militants.
On Thursday, the Dow ended down 0.5% to 16,368.27. The S&P 500 fell 0.6% to 1909.57 and the Nasdaq composite closed down 0.5% to 4334.97.
Source: Usatoday
