Tokyo stocks drop in morning as Fed hints at more large rate hikes

Economy

Tokyo stocks fell Thursday morning with the Nikkei index losing around 1 percent after the U.S. Federal Reserve hinted at further aggressive interest rate hikes to tame rising inflation the previous day, fueling concerns about a slowdown in the U.S. and global economies. The 225-issue Nikkei Stock Average fell 265.76 points, or 0.97 percent, from Wednesday to 27,047.37. The broader Topix index was down 12.25 points, or 0.64 percent, at 1,908.55. On the top-tier Prime Market, every industry category declined except for transportation equipment. Decliners were led by marine transportation, texti...

Kyodo News

Kyodo News