Nikkei briefly plunges 3% on higher bond yields, Middle East conflict

Tokyo stocks plunged Wednesday, with the Nikkei index briefly dropping more than 3 percent, as Japanese government bond yields rose and inflation concerns grew after renewed U.S.-Iran clashes drove oil prices up.The 225-issue Nikkei Stock Average ended down 1,889.70 points, or 2.85 percent, from Tuesday at 64,325.64. The broader Topix index finished 100.26 points, or 2.40 percent, lower at 4,081.60.On the top-tier Prime Market, the main decliners were nonferrous metal, service and glass and ceramics product issues.The U.S. dollar briefly weakened to the mid-159 yen level in Tokyo to fall ne…READ FULL ARTICLE