The Nikkei 225 benchmark lost as much as 7.6% in its steepest decline since April 7 while the broader Topix fell as much as 6%. Economically-sensitive sectors like tech and banks were among the biggest losers, with SoftBank Group Corp and Advantest Corp plummeting more than 12%. Japanese government bonds also dropped amid a global bond selloff and the yen fell to its weakest level against the dollar since January.