Tokyo stocks fall more than 3% after Fed taper move

January 30, 2014 | 09:55

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Tokyo stocks plunged more than three per cent on Thursday following a tumble in New York on worries over turbulence in emerging markets and the US central bank's decision to cut stimulus spending.

A pedestrian looks at an electric quotation board displaying key indexes of the world's main stock exchanges in Tokyo.
(AFP/Toru Yamanaka)

TOKYO: Tokyo stocks plunged more than three per cent on Thursday following a tumble in New York on worries over turbulence in emerging markets and the US central bank's decision to cut stimulus spending.

The Nikkei-225 index, which soared 2.70 per cent on Wednesday, lost 3.22 per cent at one point before recouping some of its losses to sit 3.00 per cent or 461.93 points down at 14,921.98.

US stocks fell sharply Wednesday, with the Dow Jones Industrial Average closing down 1.19 per cent at 15,738.79.

They opened in the red and dropped further after the US Federal Reserve announced that it will reduce asset purchases by Us$10 billion in February to US$65 billion.

AFP

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