Nikkei plunges 3% in morning on early U.S. interest rate hike fears
Tokyo stocks plunged Monday morning, with the Nikkei logging its largest intraday loss since Feb. 26, after remarks from a U.S. Federal Reserve official late last week fueled concerns about a potential first U.S. interest rate hike next year. The 225-issue Nikkei Stock Average dropped 983.21 points, or 3.39 percent, from Friday to 27,980.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 49.58 points, or 2.55 percent, at 1,896.98. Every industry category lost ground, led by rubber product, insurance and chemical issues.