Japanese stocks fall over 2% on European political uncertainties

TOKYO -- Japan's benchmark Nikkei Stock Average dropped more than 2% Monday against the backdrop of uncertainty in global politics, especially the French lower house elections beginning in late June.

The average dropped to 37,956.49 at one point, down 858.07, or 2.2%, from the previous close at 38,814.56 and the lowest intraday level since May 31. Semiconductor-related stocks dragged the index down, and automakers and retailers also fell.