Tokyo stocks drop in morning after U.S. shares plunge
Tokyo stocks dropped Wednesday morning, hit by U.S. share declines overnight as stronger-than-expected economic data heightened concern about prolonged interest rate hikes by the Federal Reserve.
The 225-issue Nikkei Stock Average fell 358.93 points, or 1.31 percent, from Tuesday to 27,114.17. The broader Topix index was down 22.78 points, or 1.14 percent, at 1,974.68.
Decliners were led by precision instrument, service, and textiles and apparel shares.