Nikkei 225 falls 4% as US midterm vote count shows Democrats ahead

The takeaway is not the vote count itself but that Japanese equities are being repriced against US political uncertainty, a reminder of how tightly Tokyo trades to US outcomes even in a domestic-election-free year. A 4% intraday move signals risk appetite, not fundamentals, is driving flows. What matters next is whether the count resolves cleanly or drags on — the length of uncertainty, rather than the result, is likely to determine whether this stays a one-session shock or something more persistent.