Tokyo stocks open lower as Fed hints at further aggressive rate hikes

Economy

Tokyo stocks dropped nearly 1 percent in early trading Thursday after the U.S. Federal Reserve suggested it will continue aggressive rate hikes to control rising inflation, raising fears of a further slowdown of the U.S. economy. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 245.54 points, or 0.90 percent, from Wednesday to 27,067.59. The broader Topix index was down 14.32 points, or 0.75 percent, at 1,906.48. On the top-tier Prime Market, every industry category declined except for transportation equipment. Decliners were led by air transportation, mining, and ma...

Kyodo News

Kyodo News