Nikkei sinks 2% at opening on U.S. inflation, Fed tightening worries

Economy

Tokyo stocks plunged Monday, dragging the Nikkei index down over 2 percent, after unexpectedly high U.S. inflation in May fueled concern over the country's economy and possible aggressive tightening by the Federal Reserve. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 666.78 points, or 2.40 percent, from Friday to 27,157.51. The broader Topix index was down 35.25 points, or 1.81 percent, at 1,907.84. Every industry category on the top-tier Prime Market lost ground except for electric power and gas issues. Decliners were led by machinery and electric appliance issu...

Kyodo News

Kyodo News