Tokyo stocks plunge in morning on U.S. rate hike fears
Tokyo stocks plunged Tuesday morning, with the Nikkei index losing more than 2 percent, on fears over aggressive interest rate hikes by the Federal Reserve after the release of stronger-than-expected U.S. employment data. The 225-issue Nikkei Stock Average fell 635.14 points, or 2.34 percent, from Friday to 26,480.97. The broader Topix index was down 30.51 points, or 1.60 percent, at 1,876.29. Financial markets in Japan were closed Monday for a national holiday. On the top-tier Prime Market, decliners were led by fisheries, electric appliance and precision instrument issues.