Nikkei 225 tumbles for 3rd straight session

Tokyo's benchmark stock index tumbled on Tuesday, its third straight day of losses, following overnight declines in New York.

Investors are concerned that high inflation in the US may persist, prompting the central bank to accelerate the pace and magnitude of rate hikes. They fear the tightening could drag down economic growth.

The Nikkei Average finished the day at 26,629. That is down 357 points, or 1.3 percent, from Monday's close. Investors unloaded shares in a wide range of sectors, with the index briefly dropping more than 600 points.

The Nikkei 225 has lost 6 percent over the past three sessions.