Nikkei index plunges 2% at opening on Fed policy, U.S. economy fears

Economy

Tokyo stocks opened sharply lower Tuesday, briefly pulling the Nikkei down over 2 percent, on concerns over a slowdown in the U.S. economy amid speculation that the Federal Reserve will become more aggressive in its rate hikes to tame inflation. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 495.11 points, or 1.83 percent, from Monday to 26,492.33. The broader Topix index was down 29.35 points, or 1.54 percent, at 1,871.71. On the top-tier Prime Market, decliners were led by air transportation, marine transportation and precision instrument issues. At 9 a.m., the d...

Kyodo News

Kyodo News