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  • Tokyo's key Nikkei index plunged more than three percent at the open on Friday after US and European sell-offs, with investors worried about the economic impact of the coronavirus outbreak. The Nikkei 225 lost 3.08 percent, or 676.55 points, to 21,271.68 while the broader Topix index was down 2.98 percent, or 46.67 points, at 1,521.39. European and US stock markets slumped painfully again on Thursday as coronavirus infections spread outside China, exacerbating fears of a global slowdown. Wall Street took a beating, with major indices shedding more than four percent in what is shaping up to be the US market's worst week since the 2008 financial crisis. "Japanese stocks are experiencing an inevitable hit from the US market rout," Seiichi Suzuki, senior market analyst at Tokai Tokyo Research Institute, told AFP. "Since the US market was unusually strong earlier, once it took a downturn, it's a hard plunge," he said. "Selling has been inviting more selling." Suzuki said no one knew when the drop would stop. "The bottom could be today or one week ahead... As for the spread of the virus, even infectious diseases experts don't know. How can market people know?" The dollar was trading at 109.52 yen against 109.69 yen in New York Thursday afternoon. mis/sah/qan
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  • Tokyo's Nikkei plunges more than 3% at open on virus fears
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