URGENT: Nikkei logs sharpest drop in 4 months on early U.S. rate hike fears

Economy

Tokyo stocks ended sharply lower Monday, with the benchmark Nikkei logging its biggest point drop since Feb. 26 amid fears of a possible U.S. interest rate hike next year following remarks from a Federal Reserve official late last week. The 225-issue Nikkei Stock Average ended down 953.15 points, or 3.29 percent, from Friday at 28,010.93, its lowest closing since May 17. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 47.11 points, or 2.42 percent, lower at 1,899.45. Every industry category lost ground, but air transportation issues were a bright spot. ...

Kyodo News

Kyodo News