TOKYO, Nov. 5 (Xinhua) -- Tokyo stocks tumbled sharply on Wednesday as investors turned cautious over the high valuations of AI-related stocks after a broad sell-off in U.S. technology shares overnight.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed down 1,284.93 points, or 2.5 percent, to end at 50,212.27.
Semiconductor and tech names such as Advantest, Tokyo Electron, and SoftBank Group weighed heavily on the market, with the Nikkei at one point plunging more than 2,400 points, briefly falling below the psychologically important 50,000 mark.
Buying on dips emerged in the afternoon from investors who had missed the earlier rally.
The broader TOPIX index also fell, down 41.85 points, or 1.26 percent, to 3,268.29.
On the Tokyo Stock Exchange's Prime Market, decliners outnumbered gainers 1,145 to 420, with 50 unchanged. ■
