Tokyo stocks fall on stalled US-Iran peace talks, rising bond yields

Tokyo stocks fell Tuesday as stalled U.S.-Iran talks and rising bond yields drove investors to sell. The Nikkei 225 closed down 1,759.52 points, or 2.54%, at 67,460.73, ending the prior day’s five-session winning streak. The Topix index slipped 43.89 points, or 1.05%, to 4,140.22. Losses were led in Prime Market shares including electric appliances, metal products, and glass and ceramics. The U.S. dollar strengthened to the upper 159 yen range in Tokyo amid heightened Middle East tension and “flight to safety.” Benchmark 10-year Japanese government bond yields rose to 2.945%, the highest since October 1996, reflecting higher U.S. Treasury yields tied to inflation concerns from unstable crude supplies.