Nikkei drops below 13,000 mark

<p>Volatile trading saw the Nikkei dip below 13,000.</p>

The Nikkei is down today (June 25th) and ended the day below the crucial 13,000 mark.

It closed the session 0.7 per cent lower than it started the day, adding to the 1.5 per cent losses sustained on Monday.

Concerns over the state of the banking system in China helped to push the Nikkei down lower and it now faces a fifth weekly fall out of the last six.

"Investors started worrying about how US and European markets would react to drops in China and they rushed to sell," Naoki Fujiwara, a fund manager at Shinkin Asset Management, told Reuters.

Trading was volatile over the course of today's session and the Nikkei was up by 1.3 per cent at one stage, while it had dropped by 2.3 per cent at another.

Global markets have been struggling in the last few days after it was revealed by the US Federal Reserve that the body is considering winding down the asset purchasing scheme.

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