Tokyo: Japan’s benchmark Nikkei stock index, The 225-issue Nikkei Stock Average, saw a significant drop on Friday morning, plunging more than 2,000 points and falling below the 37,000 mark.
This represented one of the steepest declines since early February during intraday trading.
The sharp downturn in the Tokyo stock market is largely attributed to growing concerns over the slowing U.S. economy, market watcher here noted, as investor sentiment has been negatively impacted by recent economic data from the United States, which suggests a potential deceleration in economic growth.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 1,715.67 points, or 4.50 percent, from Thursday to 36,410.66. The broader Topix index was down 118.87 points, or 4.40 percent, at 2,584.82.
The extensive sell-off in Tokyo was marked by a broad-based decline, with almost all sectors experiencing losses. Major contributors to the plunge included securities house, insurance and bank issues.
