Tokyo’s markets were lower on the session Tuesday.
The Nikkei 225 was down 1.27 percent to 17,137.92 and the Topix index was 1.94 percent lower to 1,625.25, while the Mothers market dropped 3.98 percent to 833.11.
There were big losses in financial services of various kinds and in the real estate sector.
Banks were lower on new concerns about the subprime mortgage crisis.
Mizuho Financial (TYO: 8411; NYSE: MFG) was 5.1 percent lower to ¥631,000 and Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 6 percent to ¥1,059.
Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33), meanwhile was 0.5 percent lower to ¥2,070.
In the consumer finance sector Acom (TYO: 8572) dropped 4 percent to ¥2,305 and Orix (TYO: 8591) fell 6.6 percent to ¥25,230, while Takefuji (TYO: 8564) was down 7.2 percent to ¥2,380.
Meanwhile, in the real estate sector, Sumitomo Realty (TYO: 8830) was 2.9 percent lower to ¥3,980 and Pacific Management (TYO: 8902) dropped 8.1 percent to ¥159,000.
There were gains in the oil sector after crude oil prices soared above the $86 per barrel level in the US on Monday.
Inpex (TYO: 1605) added 2.4 percent to ¥1.3 million while refiner Cosmo Oil gained 3.3 percent to ¥527.