Wall Street

Nintendo Stock Dives On Oil

Online Stock Market Trading Japanese stocks plummeted today, being led by companies that rely primarily on overseas demand for their products, such as Nintendo. The slide is being attributed to the concerns that the high cost of energy will hinder the profit growth of the company, especially taking into account the price of oil, which has risen above $60 a barrel.

According to Tatsuyuki Kawasaki, an equities manager at Kaneyama Securities Co. in Tokyo, the jump in oil prices will "damp sentiment and put a lid on the broader market". Nintendo, the worlds top maker of handheld players lost 120 yen, or 1 percent, to 11,760 on the Nikkei stock exchange.
Stay with Advanced Media for ongoing coverage of the latest news in the videogame industry.

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