Tokyo stocks tumbled Monday as geopolitical tensions weighed on investor sentiment. The Nikkei 225 index closed down 793.03 points, or 1.35 percent, at 58,057.24, while the broader Topix declined 1.02 percent. Markets initially plunged over 2 percent following U.S. and Israeli strikes on Iran over the weekend, with concerns mounting about potential disruptions to oil supplies through the Strait of Hormuz. Air transportation, securities, and banking stocks led the declines. The dollar strengthened to a one-month high near 157 yen amid flight-to-safety demand. While crude oil prices eased from Sunday's $75 barrel peak, analysts warn that broader economic concerns persist beyond the immediate conflict, particularly regarding energy costs and their impact on corporate earnings and economic growth.
