Nikkei drops on fears over prolonged U.S. monetary tightening
The Nikkei stock index fell Monday morning after stronger-than-expected U.S. inflation data sparked concerns that the Federal Reserve will continue with its monetary tightening.
The 225-issue Nikkei Stock Average fell 48.11 points, or 0.18 percent, from Friday to 27,405.37. The broader Topix index was down 1.76 points, or 0.09 percent, at 1,990.16.
Decliners were led by retail, electric power and gas, and information and communication shares.