As the Fed tightens its timeline for future interest rate hikes, Japan's Nikkei falls to a 14-month low, with tech stocks taking the brunt of the sell-off.

Tokyo's Nikkei index ended at a 14-month low, dragged down by technology heavyweights, after the U.S. Federal Reserve's chairman signalled plans to steadily tighten policy.
The Nikkei share average (.N225) lost 3.11% to 26,170, its lowest close since Nov. 24, 2020. The index, which fell for a third straight day, marked its biggest daily decline since June 21, 2021. This marks the third consecutive day of losses for the Nikkei share average, with the index seeing its biggest daily decline since June 21, 2021.
The broader Topix (.TOPX) fell 2.61% to 1,842.44. The indexes opened higher, but the broader Topix (.TOPX) fell 2.61% to 1,842.44.
"The U.S. market was not solid yesterday, which made investors cautious and they bet Wall Street might fall later today," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.
All three major U.S. stock indexes experienced large swings in the final minutes of the trading session, with the Dow ending in negative territory, the S&P barely in the black, and the Nasdaq just managing to post a nominal gain.
» Nidec's third-quarter operating profit dipped as rising material prices and a shortage of semiconductors squeezed margins.
Technology start-up investor SoftBank Group (9984.T) lost 9.15%, chip-related Advantest lost 6.97% and game maker Sony Group (6758.T) fell 6.74%.
» Fanuc (6954.T) gained 1.1% after the robot maker raised its annual operating profit forecast. This bucked the trend, as most stocks were down on the day.
» After announcing the sale of the grains business of its U.S. unit Gavilon to commodities trader Glencore's (GLEN.L) Viterra arm, Marubeni gained 1.38%.
Only two out of the 33 industry sub-indexes on the exchange gained, with insurance firms (.IINSU.T) and oil explorers (.IMING.T) up 0.37% and 0.04%, respectively.
On the Nikkei index, there were 25 advancers and 197 decliners.

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