Nikkei falls 3% to three-week low

<p>The Nikkei dropped to a three-week low after losing three per cent.</p>

The Nikkei's run of weekly gains came to an end today (July 26th) after the index lost three per cent of its value.

After a strong start to the week with two days of gains on Monday and Tuesday, the Nikkei has tailed off badly in the second half of the week.

According to a report by CNBC, the Nikkei lost 400 points during the session and fell to its lowest level in the last three weeks.

The Nikkei is now lower than it has been at any point since July 9th and this made it the worst performing Asian index on Friday.

Mitsubishi UFJ was down by 4.7 per cent while, Sumitomo Mitsui Financial lost 3.9 per cent and car manufacturers Mitsubishi Motor and Toyota Motor fell nearly four per cent each.

The Nikkei had expanded to as high as 14,748.77 at the open yesterday, but fell away to end the day of trading 1.1 per cent down at 14,562.93.

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