Japanese markets rally halts, Nikkei drops 1.45%
10-year government bonds ticked up after U.S. Treasury Secretary Scott Bessent told Bloomberg Television that the Bank of Japan is "behind the curve" in addressing inflation, suggesting that it will likely be raising interest rates.
The Nikkei average fell 1.45 percent to 42,649.26 while the broader Topix index settled 1.10 percent lower at 3,057.95.
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