In Tokyo, the Nikkei stock average decreased on Wednesday in a wide sell-off following similar losses on Wall Street due to concerns over slowing economic growth and diminishing expectations for U.S. tariff relief.

By 0016 GMT, the Nikkei had dropped by 3.1% to 32,010.93, while the broader Topix index fell by 3% to 2,360.32.

The S&P 500 experienced a notable decline on Tuesday, closing below 5,000 points for the first time in nearly a year, as hopes faded for U.S. tariff adjustments prior to a midnight deadline, after initially rallying in the morning.

In Japan, the technology sector saw significant losses, with Advantest, a chip-testing equipment manufacturer, plummeting by 9%, and Tokyo Electron, a chip-making equipment company, falling by 4.85%.

SoftBank Group, a major technology investor, also saw a decline of 5.96%.

(Reporting by Junko Fujita; Editing by Tom Hogue)