Nikkei plunges 2% in morning on aggressive Fed policy fears
Tokyo stocks were sharply lower Tuesday morning, with the Nikkei index sinking over 2 percent on concerns over a slowdown in the U.S. economy amid speculation that the Federal Reserve may become more aggressive in its rate hikes to tame soaring inflation. The 225-issue Nikkei Stock Average fell 540.62 points, or 2.00 percent, from Monday to 26,446.82. The broader Topix index was down 29.54 points, or 1.55 percent, at 1,871.52. On the top-tier Prime Market, decliners were led by air transportation, precision instrument and real estate issues.