Nikkei opens sharply lower after plunges on Wall Street

Economy

Tokyo stocks opened sharply lower Wednesday, pulling the Nikkei index down by more than 2 percent, as stronger-than-expected U.S. inflation data led Wall Street to tumble overnight. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average plunged 802.38 points, or 2.80 percent, from Tuesday to 27,812.25. The broader Topix index was down 43.37 points, or 2.18 percent, at 1,943.20. On the top-tier Prime Market, decliners were led by electric appliance, metal product, and precision instrument issues. At 9 a.m., the dollar fetched 144.41-44 yen compared with 144.57-67 yen in New York...

Kyodo News

Kyodo News