URGENT: Japan's Nikkei opens lower, drops over 2%

Economy

Tokyo stocks opened sharply lower Tuesday, with the Nikkei briefly dropping over 2 percent, on fears that higher oil prices may act as a drag on the global economic recovery after U.S. crude oil futures rose overnight to their highest level in nearly seven years. Major decliners included marine transportation, precision instrument and electric appliance issues.

Kyodo News

Kyodo News