Tokyo stocks drop in morning on fears for U.S. stimulus tapering

Economy

Tokyo stocks dropped sharply Thursday morning, with the Nikkei hitting its lowest intraday level since early January, as strong U.S. consumer price data fueled inflation fears and concern the Federal Reserve will be forced to bring forward monetary stimulus tapering. The 225-issue Nikkei Stock Average fell 518.78 points, or 1.84 percent, from Wednesday to 27,628.73, with the index briefly hitting its lowest level since Jan. 7. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 11.38 points, or 0.61 percent, at 1,866.57. Decliners were led by information an...

Kyodo News

Kyodo News