Japanese markets fall sharply

Japanese markets fell sharply, retreating from a four-month high hit the previous day as the Israel-Iran conflict entered its seventh day.

The Nikkei average fell 1.02 percent to 38,488.34, snapping a three-day winning streak. The broader Topix index closed 0.58 percent lower at 2,792.08. Nippon Steel jumped 2.3 percent after closing its nearly $15 billion acquisition of U.S. Steel.

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