Tokyo stocks open sharply lower on fears of U.S. monetary tapering

Economy

Tokyo stocks opened sharply lower Thursday, tracking an overnight slump on Wall Street, as a strong U.S. consumer price index for April fueled inflation fears and concern the Federal Reserve will be forced to bring forward monetary stimulus tapering. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average dropped 537.09 points, or 1.91 percent, from Wednesday to 27,610.42, its lowest intraday level since Jan. 7. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 23.02 points, or 1.23 percent, at 1,854.93. Decliners were led by information an...

Kyodo News

Kyodo News