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Nikkei tumbles to more than 6-month low after Wall Street rout


Thursday, 25 October 2018 09:47 WIB

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Japan's Nikkei stumbled to the lowest level in more than six months early on Thursday after Wall Street erased its 2018 gains while a tumble by Nasdaq dragged down Japanese chip-related stocks.

The Nikkei share average plummeted 3.5 percent to 21,313.33 in midmorning trade, after falling to 21,282.14, its lowest level since early April.

The broader Topix hit a fresh one-year low, dropping 3.0 percent to 1,601.73, causing market capitalization to fall below 600 trillion yen for the first time since September 2017.

The Nikkei has dropped 13 percent from a 27-year peak of 24,448.07 touched on Oct. 2.

Reuters


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