Home ›› 27 Sep 2022 ›› Stock
Tokyo stocks closed lower Monday with investors disheartened by global selloffs linked to growing fears over an economic slowdown.
The benchmark Nikkei 225 index plunged 2.66 per cent, or 722.28 points, to end at 26,431.55, while the broader Topix index lost 2.71 per cent, or 51.84 points, to 1,864.28.
The dollar fetched 143.89 yen, against 143.31 yen on Friday in New York.
Recession fears spread on Friday after central banks ramped up interest rates to combat decades-high inflation, causing stock markets to tumble and the pound to crash against the dollar.
The Federal Reserve's decision Wednesday to again lift borrowing costs by 75 basis points was followed by a warning that more big rises were in the pipeline and that rates would likely come down only in 2024.
There were similar moves by central banks in other countries, including Britain, Sweden, Norway, Switzerland, the Philippines and Indonesia -- all pointing to a dark outlook for markets.
