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Japan's Nikkei share average plunged 4% on Wednesday, its worst session in seven months, mirroring Wall Street's sharp overnight declines. High-flying technology stocks like SoftBank Group and Advantest led the fall, though analysts suggest it's a reaction to recent gains rather than a market exit. Nintendo, however, jumped on an improved sales forecast.
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Global markets are experiencing a risk-off sentiment. The Japanese yen and U.S. dollar are in demand. Asian stock markets saw significant drops. The Australian and New Zealand dollars weakened considerably. Sterling also declined. Investors are closely watching U.S. economic data and Federal Reserve policy.
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Oil prices dropped on Wednesday. Global markets saw a broad selloff. Concerns about economic and fuel demand growth grew. A stronger U.S. dollar also impacted prices. U.S. crude stockpiles reportedly increased. These factors contributed to the decline in oil prices. OPEC+ agreed to a modest output increase for December.
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