The Nikkei 225 index in Japan fell as much as 3.1%, marking a decline of more than 10% from the high it reached on June 25th, as selling pressure intensified within the technology sector, pushing the benchmark towards a technical correction.

The Nikkei 225 had previously peaked at 72,366.34 points on June 25th.

The Topix index also declined, falling by 1.8%.