Tokyo stocks fall sharply on recession fears in U.S., Europe
Tokyo stocks fell sharply Friday morning, pressured by fears over a potential recession in the United States and Europe amid a series of interest rate hikes by their central banks to tame inflation. The 225-issue Nikkei Stock Average shed 431.04 points, or 1.54 percent, from Thursday to 27,620.66. The broader Topix index was down 14.51 points, or 0.74 percent, at 1,959.39. Stocks fell almost across the board on the top-tier Prime Market, with electric appliance, precision instrument, and information and communication issues leading the decline.