Tokyo stocks fall in morning after IMF downgrades growth estimates
Tokyo stocks dropped in volatile trading Wednesday morning, dragged down by concerns over a slowdown in global growth after the International Monetary Fund downgraded estimates for the Japanese and global economies for 2021. The 225-issue Nikkei Stock Average fell 61.62 points, or 0.22 percent, from Tuesday to 28,168.99. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 4.52 points, or 0.23 percent, at 1,978.16. Decliners were led by marine transportation, bank, and iron and steel issues.