Tokyo stocks fall to 3.5-year low on virus fears

TOKYO Tokyo stocks plunged for the third straight session on Friday, with a key index ending at a near three-and-a-half year low following a sharp sell-off on Wall Street overnight amid increasing coronavirus crisis.

The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) lost 1,128.58 points, or 6.08 percent, from Thursday to 17,431.05, the lowest closing level since November 11, 2016.

At one point in the morning, it shed over 1,800 points for the biggest point loss in almost 30 years. The broader Tokyo Stock Price Index, which includes all shares on the market’s First Section on the TSE, was also down 66.18 points, or 4.98 percent, lower to 1,261.70, with all 33 sectors on the TSE losing ground.

Sell orders overwhelmed Tokyo stocks after US shares tumbled Thursday due to concerns over the global economic impact from the coronavirus outbreak.

Source: Kuwait News Agency