Mubasher: Japanese stocks fell to their lowest level in nearly seven months on Friday, as market participants reduced stockholdings ahead of important U.S. jobs data.

The Nikkei Stock Average fell 390.23 points, or 2.2%, to 17,792.16, the lowest level since Feb. 10. The Nikkei index fell 7% this week, the biggest weekly drop since April 2014.

Japanese stocks opened higher, helped by European Central Bank President Mario Draghi’s indications of additional easing, but soon turned negative as caution prevailed over the global economic outlook.