TOKYO Cheap Air Jordan 10 Retro Gym Red Black For Sale , Aug. 8 (Xinhua) -- The Nikkei stock index tumbled 2.98 percent to its lowest close in two months, as investor sentiment was dashed by news of potential air strikes by the United States on Iraq and as the situation in Ukraine escalates.
The Nikkei 225 index dropped 454.00 points to close at 14,778. 37, marking its lowest closing level since late May, while the broader Topix index of all first-section shares lost 2.37 percent, or 29.86 points Cheap Air Jordan Retro 10 X Chicago Bulls For Sale , to finish at 1,228.26.
Local traders here said that investors were back to a risk- averse mood following U.S. President Barack Obama announcing he has authorized targeted air strikes against Islamic militants in Iraq at the request of the Iraqi government, as the U.S. military sets about an airborne operation to provide relief to thousands of minority Iraqis driven to a refuge atop a mountain.
The U.S. president said, however, that ground troops would not be involved in this operation.
Ayako Sera, a strategist at Sumitomo Mitsui Trust Bank Ltd. Cheap Air Jordan 10 Charlotte Mens White Blue For Sale , said that the move by the U.S. may lead to the disruption of key oil supply chains and thus weigh on the global economy.
"Obama's action shows the U.S. inevitably needs to be involved in the Middle East. That's causing a risk-off mode and may weigh on the global economy because it can disrupt supply and demand of oil," Sera said.
Other strategists said the geopolitical situation in Ukraine was also weighing heavily on the market mood as Russian troops intensified their presence on its border with Ukraine and Moscow unrolled an extension of its original import bans to countries that have sanctioned it, as the crisis becomes the worst between Russia and the United States and its allies since the Cold War.
The U.S. dollar dropped to as low as 101.58 yen in Tokyo Friday, compared with 102.09 yen in New York logged late on Thursday. A strong yen is bad for exporters as they see overseas profit yields diminish when repatriated on unfavorable exchange rate and their competitiveness in global markets is also compromised.