Nikkei closes down 2% on expectations of Fed monetary tightening
Tokyo stocks ended sharply lower Monday, with the Nikkei index briefly sinking over 2 percent, on expectations that the U.S. central bank will become more aggressive in tightening its monetary policy to tackle soaring inflation. The 225-issue Nikkei Stock Average ended down 514.48 points, or 1.90 percent, from Friday at 26,590.78. The broader Topix index finished 28.63 points, or 1.50 percent, lower at 1,876.52. Every industry category on the top-tier Prime Market lost ground, except for farm and fishery issues. Decliners were led by mining, marine transportation and air transportation issues.