Tokyo stocks open lower on U.S. recession fears
Tokyo stocks opened lower Friday, following a sharp drop on Wall Street overnight, as fears of a recession in the United States due to prolonged monetary tightening by the Federal Reserve spooked the market.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 367.01 points, or 1.31 percent, from Thursday to 27,684.69. The broader Topix index was down 16.20 points, or 0.82 percent, at 1,957.70.
On the top-tier Prime Market, electric appliance, machinery and precision instrument issues were among the worst performers. At 9 a.m., the dollar fetched 137.74-77 yen compared w...