Tokyo stock prices plunged across the board Tuesday morning in the wake of Lehman Brothers' bankruptcy.
The Tokyo Stock Exchange opened with investors selling a wide range of issues, following a sharp drop in share prices in New York on Monday. The yen's rise against the dollar was also a factor.
The benchmark Nikkei average of 225 selected issues ended the morning session at 11,596, down 618 points from Friday's close. Japanese markets were closed on Monday for a national holiday.
The Nikkei index dipped below 12,000 points for the first time in 6 months, with shares trading at their lowest levels in over 3 years.
The broader TOPIX index of all first section issues was down 66 points, to 1,110.
The sell-off was triggered by concerns that the financial turmoil originating in the United States will worsen.
Market watchers say the deteriorating performance of US financial institutions will likely lead to a further slowdown of the US economy and that of the world.
2008/09/16 12:02
(From NHK)
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