Japan's Nikkei falls 3% on tech selloff

The index fell as much as 3.3% to 48,661,52, hitting its lowest level since October 23, as the selloff accelerated in the afternoon session. It was last down 3% at 48,808.33, as of 0502 GMT, while the broader Topix slipped 2.49% to 3,264.11. "Once the Nikkei fell below the key 50,000 level, sentiment worsened and the sell-off accelerated," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. "Some investors wanted to buy shares on a dip, but even they waited for shares t ...