Japan's Nikkei share average slid the most in three weeks on Thursday, pulling back from a record high as investors sold AI-related stocks after Broadcom missed second-quarter revenue expectations, while renewed fighting between the U.S. and Iran also soured risk sentiment.
The Nikkei fell 1.36% to close at 67,470.69, the steepest drop since May 15. The broader Topix dropped 1.11% to 3,951.85. The drop comes a day after the Nikkei closed above the 68,000 level for the first time. However, Wall Street tumbled overnight, with the S&P 500 falling 0.7% and oil prices rising around 2% as hostilities in the Middle East erupted anew, and talks between Tehran and Washington showed little progress.
