Tokyo Stocks Plummet, Most In Six Months

Tokyo stocks sharply plunged on Wednesday, sending key indexes to fall the most in six months pressured by concern that a rise in oil prices could hurt the global economic recovery as political unrest in the Middle East continues.

The 225-issue Nikkei Stock Average on the Tokyo Stock Exchange (TSE) 261.65 points, or 2.43 percent, from Tuesday to 10,492.38, the first drop in four days.

The broader Tokyo Stock Price Index, which includes all shares on the market’s first section, was down 20.83 points, or 2.16 percent, to 942.87.

All 33 sectors on the TSE lost ground, with notable losers including export-oriented issues. Both indexes fell the most since Aug. 31.

In the currency markets, at 3:40 p.m. (0640 GMT), the US dollar traded at JPY 81.88-90 versus JPY 81.81-91 in New York and JPY 82.18-20 in Tokyo at 5 p.m. Tuesday.