Japan's Nikkei drops 2% as tech stocks tumble

A screen displays the Nikkei 225 Stock Average figure at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan. - Photographer: Akio Kon/Bloomberg

TOKYO: Japan's Nikkei share average fell by as much as 2% early on Friday, with tech stocks tracking overnight declines for Wall Street peers as investors worried about sky-high valuations.

The Nikkei was down 1.8% at 50,356.47 about 12 minutes into the trading day.

The broader Topix lost 1% to 3,348.11.

Shares of artificial intelligence-linked companies led declines, with startup investor SoftBank Group sliding 6.7%, and chip-testing equipment maker Advantest dropping 3.8%. - Reuters