Tokyo stocks plunge in morning on fears over U.S. monetary tightening
Tokyo stocks were sharply lower Monday morning, with the benchmark Nikkei dropping over 2 percent, as investors unloaded a wide range of shares amid worries that the U.S. central bank may further tighten its monetary policy to fight high inflation. The 225-issue Nikkei Stock Average fell 593.26 points, or 2.2 percent, from Friday to 26,410.30. The broader Topix index was down 32.39 points, or 1.69 percent, at 1,883.52. On the top-tier Prime Market, decliners were led by iron and steel, nonferrous metal and wholesale trade issues.