Nintendo stock slips on limp dollar

The dollar dropping to an all-time low versus the euro is having more of an adverse affect on the global economy than propelling the price of crude oil to record levels. With the dollar hitting a three-year low of 102.62 Japanese yen as well, Nintendo's stock today slid nearly 6 percent to ¥50,200 (about $486) on the Osaka stock exchange.

According to the Bloomberg news service, the flaccid US dollar directly has impacted Nintendo's profits due to the fact that it "sells more than twice as many consoles in the Americas as in Japan." Societe Generale chief economist Akio Yoshino told Bloomberg, "With the yen above 104 versus the dollar, businesses can't avoid a drop in profit without some extraordinary measures."

Despite robust third-quarter revenues and continuing high Wii demand, Nintendo's stock continues to grapple with a strengthening yen since topping out in October at ¥73,200 ($685). Likewise, Japanese companies are down across the board, with Bloomberg noting that 32 out of 33 of the island nation's top shares traded lower today.