Japanese stocks extend losing streak as new premier underwhelms

Japanese equities fell, pushing the Nikkei 225 Stock Average to a seventh-daily loss and the brink of a technical correction, amid market disappointment with a new government and a host of threats to global economic growth.

The blue-chip measure closed 2.2% lower, capping its worst longest losing streak since May 2019 and extending its loss from a September high to 9.3%. Along with fading of hopes for the administration of Prime Minister Fumio Kishida, investor sentiment was hurt Tuesday by a global selloff in technology shares on the threat of persistently high U.S. inflation and ongoing concern over China Evergrande