Nikkei down 2% in morning on U.S. rate hike concern

Tokyo's Nikkei stock index fell 2 percent Friday morning following an overnight decline on Wall Street on concern over prolonged rate hikes by the U.S. Federal Reserve to control rising inflation. The 225-issue Nikkei Stock Average lost 560.22 points, or 2.03 percent, from Wednesday to 27,103.17. The broader Topix index was down 27.31 points, or 1.41 percent, at 1,913.15. Japanese financial markets were closed Thursday due to a national holiday. On the top-tier Prime Market, decliners were led by glass and ceramics product, metal product, and precision instrument issues.