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Japanese Market Sharply Lower, Dumps 650 Points

Japanese Market Sharply Lower, Dumps 650 Points TOKYO (dpa-AFX) - The Japanese stock market is sharply lower on Friday, extending the significant losses of the previous two sessions, with the benchmark Nikkei 225 losing nearly 650 points to be just above the 27,400 level, following the broadly negative cues overnight from Wall Street. Traders are spooked after reports of plans to reintroduce a state of emergency to contain a resurgence of a fresh wave of COVID-19 infections. Japan has already declared a new state of emergency for Tokyo until August 22 to combat a recent surge in infections ahead of the Olympic Games in the city in two weeks. The Tokyo metropolitan government reported 920 new infections on Wednesday, the highest figure since mid-May.

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