The benchmark stock index in Tokyo fell on Thursday. The Credit Suisse situation had investors in a cautious mood after the failures of Silicon Valley Bank and Signature Bank in the span of just one week.

The Nikkei Stock Average ended the day at 27,010. That's down nearly 220 points or 0.8 percent from Wednesday's close. It briefly lost almost 600 points.

Analysts say traders unloaded shares across the board right from the opening. They also say concerns over financial institutions in the US and Europe, and the yen's appreciation against the dollar and euro, prompted investors to sell financial and export-related issues.

But the index trimmed losses after Credit Suisse announced it would take a 54-billion-dollar loan from the Swiss central bank.