Nikkei 225 Volatility: Middle East War and Chip Stocks Pull Opposite Ways

Japan's Nikkei 225 swung from 61,434 on July 29 to 66,300 by August 5, then dropped 648 points (0.98%) to 65,652 on August 7, per FRED and TradingEconomics. Two forces drive the swings: Middle East escalation pressuring Asian risk appetite, and semiconductor earnings beating estimates yet still falling — AMD declined August 5 despite topping consensus. Neither force shows clear signs of easing.