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Japan's benchmark Nikkei falls 2.52 percent in early trade

Japan's benchmark Nikkei falls 2.52 percent in early trade

Japan's benchmark Nikkei 225 stock index plunged 2.52 percent Wednesday morning after the Dow Jones fell 280 points overnight on Wall Street.
The Nikkei was 15,876.60 points, down 410,89 points, or 2.52 percent, shortly after the morning session began. The index fell 0.1 percent Tuesday.
Overnight in New York, stocks plunged as investors grew more uneasy about the U.S. economy and whether the U.S. Federal Reserve will take steps to prevent credit market problems from spreading further.
In Tokyo, traders sold exporter issues on the weak dollar which was trading at 114.02 yen at 8:50 a.m. Wednesday (23:50GMT Tuesday), down from 114.56 yen late Tuesday in New York.
The stronger yen makes Japanese exports more expensive and less competitive overseas.
Among the early decliners were Toyota Motor Corp., which lost 3 percent and Nissan Motor Co., which fell 3.9 percent.
The broader Topix index, which includes all shares on the exchange's first section, also slipped 39.14 points, or 2.47 percent, to 1,545.46 points. The Topix lost 0.20 percent Tuesday.
In currency dealings, the euro fell to US$1.3579 from US$1.3634.


Updated : 2021-03-05 15:08 GMT+08:00