Nikkei Falls 1.3% as Yen Strength Traps Export-Heavy Index in Feedback Loop

Japan's Nikkei fell 1.3%, led lower by electronics and real-estate stocks, as Omicron uncertainty drove investors into the yen — a traditional safe haven. The stronger yen then squeezed export-heavy sectors that dominate the index, compounding the risk-off pressure. The decline concentrated precisely where currency strength and pandemic fears intersect most directly.