The Nikkei 225 stock average fell for the third consecutive day - to a four-month low.

The result was an 647.66-point decline in the closely watched Nikkei stock index of 225 issues, to 16,078.71.

The Nikkei 225 stock average fell 1.3 percent, but is still up 32 percent this year.

The blue-chip 225-issue Nikkei stock average rose 45.15 points, to close at 10,093.25.

The benchmark Nikkei 225 stock index tumbled 386.31 points, or 2.6 percent, to close at 14,759.05.

The Nikkei 225 stock index has risen 22.4 percent since midyear.

The Nikkei 225 stock index spent most of the day in negative territory before finishing with a 0.2 percent gain.

Japanese needed to settle their accounts after a sour three months, when the Nikkei 225 stock index dropped more than 18 percent.

That was good news for me because many of the banks I control are heavily invested in Nikkei stocks.

The Nikkei 225 stock average jumped 47 percent in the fiscal year that ended on March 31.