Nikkei Set to Stabilize After Two-Day Slide as Oil Prices Ease and Wall Street Closes Mixed

Japan's Nikkei 225 is expected to find support on Wednesday after falling nearly 1,300 points, or 2%, across back-to-back sessions, with the index closing Tuesday at 64,075.42, down 841.28 points or 1.30%. The decline was driven by losses in technology stocks, financial shares and automakers. The index traded between 63,807.15 and 64,822.22 on Tuesday. Sentiment may improve following a dip in crude oil prices, with West Texas Intermediate for November delivery falling $1.76, or 1.82%, to $101.84 a barrel on reports that Qatar and Pakistan are pushing for a peace deal between the U.S. and Iran. On Wall Street, the Dow jumped 529.85 points, or 1.02%, to 52,495.88, while the NASDAQ eased 6.07 points, or 0.02%, to 26,424.82 and the S&P 500 added 21.84 points, or 0.28%, to 7,712.57. Japan will release September trade data later Wednesday, with imports expected to rise 19.6% year-on-year and exports 20.1%, and the trade deficit projected at 181.0 billion yen.