Tokyo stocks down sharply in morning on global economic concerns
Tokyo stocks fell sharply Monday morning due to concerns about a slowdown in the global economy in the wake of interest rate hikes by U.S. and European central banks. The 225-issue Nikkei Stock Average fell 534.30 points, or 1.97 percent, from Thursday to 26,619.53. The broader Topix index was down 37.98 points, or 1.98 percent, at 1,878.14. Japanese financial markets were closed Friday for a national holiday. On the top-tier Prime Market, decliners were led by mining, oil and coal product, and transportation equipment issues.