Nikkei plunges to below 28,000 after Fed chief's hawkish remarks
Tokyo stocks plunged Monday morning, sending the Nikkei index below the 28,000 line, after Federal Reserve Chairman Jerome Powell's hawkish remarks about fighting inflation sent U.S. shares sharply lower late last week. The 225-issue Nikkei Stock Average fell 789.70 points, or 2.76 percent, from Friday to 27,851.68. The broader Topix index was down 39.33 points, or 1.99 percent, at 1,940.26. On the top-tier Prime Market, all the sectors declined except oil and coal product, and mining issues.