Tokyo, March 4 (Jiji Press)–Japan’s key Nikkei 225 stock average tumbled more than 1,500 points Wednesday morning to fall below 55,000 for the first time since Feb. 6. At 9:12 a.m., the key index of 225 issues on the Tokyo Stock Exchange’s top-tier Prime section came to 54,756.16, falling 1,522.89 points, or 2.71 pct, from the previous day’s closing. Tokyo stocks came under broad selling as escalating tensions in the Middle East continued to fuel risk-off moves. Sentiment was dampened by concerns that rising crude oil prices could spur inflation, amid worries that the conflict between the U.S.-Israeli side and Iran could become prolonged. Middle East tensions have tanked equities markets across the globe, with three key U.S. market gauges, including the Dow Jones industrial average, falling on Tuesday. END [Copyright The Jiji Press, Ltd.]
Nikkei Average Sinks over 1,500 Points in Morning
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