Tokyo stocks fall sharply on fears over U.S. financial system
Tokyo stocks dropped sharply Monday morning, led by plunges in banks and other related issues as concerns over the U.S. financial system grew after tech-focused U.S. lender Silicon Valley Bank collapsed late last week.
The 225-issue Nikkei Stock Average fell 437.90 points, or 1.56 percent, from Friday to 27,706.07. The broader Topix index was down 40.98 points, or 2.02 percent, at 1,990.60.
Decliners were led by bank, insurance and securities house shares.