Nikkei Drops 1.3% as Stronger Yen Hits Export Stocks

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