JAPAN’S NIKKEI PLUNGES 3.5% AS FED RATE HIKE FEARS GROW

Japanese stocks tumbled after hotter-than-expected U.S. inflation fueled expectations of higher interest rates.

The Nikkei fell 3.5%, led by sharp losses in AI stocks: SoftBank -7.9%, Advantest -7.3% and Tokyo Electron -5.8%.

Rising rate fears are putting renewed pressure on global tech stocks.