URGENT: Tokyo's Nikkei stock index down 2% on China property fears

Economy

Tokyo stocks opened sharply lower Tuesday, with the benchmark Nikkei sinking over 2 percent at the outset, as concerns over a potential default by Chinese property developer Evergrande Group shocked U.S. and European stock markets overnight. The Nikkei dropped below the 30,000 mark for the first time in nearly two weeks on an intraday basis. With the mood shifting to risk-off, investors also sought safe-haven assets such as the Japanese yen.

Kyodo News

Kyodo News