Nikkei slips for a second session as oil prices ease

what happened

According to TradingView, Japan's Nikkei fell 841.28 points, or 1.30 percent, on Tuesday to finish at 64,075.42. The index traded between 63,807.15 and 64,822.22 during the session. Across the last two sessions it has lost almost 1,300 points, or 2 percent. Pressure came mainly from technology companies, financial firms and carmakers.

On Wall Street, the Dow gained 529.85 points, or 1.02 percent, to 52,495.88, helped by 3M, which reported third-quarter results above expectations and raised its full-year profit outlook. The S&P 500 rose 0.28 percent to 7,712.57, while the Nasdaq slipped 0.02 percent to 26,424.82.

WTI crude for November delivery dropped $1.76, or 1.82 percent, to $101.84 a barrel. Prices weakened after word that Qatar and Pakistan are seeking to broker a settlement between Washington and Tehran. Japan publishes September trade data later on Wednesday, with imports expected to rise 19.6 percent from a year earlier and exports 20.1 percent.

why it matters

The key question for Japanese stocks is whether the Nikkei can hold near the 64,075 level. The global outlook for Asian markets points to a flat to slightly higher open. Cheaper oil lowers costs for energy importers, and the trade figures will show how overseas shipments are holding up. Headlines on Iran talks remain the main driver for the crude market.

market impact

Nikkei and Japanese tech, bank and auto stocks: sector weakness weighs on the index; cheaper oil eases import costs.

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instruments