Tokyo stocks plunge in morning on U.S. credit rating downgrade
Tokyo stocks plunged Wednesday morning, hit by concern over the downgrading of U.S. debt by a major credit rating agency and moves to lock in gains after the Nikkei hit a one-month high the previous day.
The 225-issue Nikkei Stock Average fell 615.29 points, or 1.84 percent, from Tuesday to 32,861.29. The broader Topix index was down 23.33 points, or 1.00 percent, at 2,314.03.
On the top-tier Prime Market, decliners were led by securities house, insurance, and electric power and gas issues.