Nikkei Falls 1.5 Percent on Weak Dollar
Summary from United States, from articles in English
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Major Asian stock markets fell sharply in early trading on Monday as pessimism continued to spread despite the Fed's dramatic moves over the weekend, sending Tokyo's benchmark index to a three-year low. (article 2)
The benchmark Nikkei 225 stock index fell 191.84 points, or 1.54 percent, to 12,241.60 on the Tokyo Stock Exchange, also marking the index's lowest close since Aug. 10, 2005. (article 1)
Traders said the near-term outlook is unclear, with a string of economic data due out next week and many investors watching Washington for signs of more financial measures to buoy markets. (article 1)
Automakers, often seen as exporter bellwethers when foreign exchange rates are volatile, were among the day's biggest losers. (article 1)
In late Tokyo trading, the dollar fell below 100 yen for the first time since 1995, sinking as low as 99.75 yen. (article 3)
Asian markets, which had rallied Wednesday on news of the U.S. Federal Reserve's $200 billion relief plan for tight credit markets, resumed their slide amid pessimism that the move will prevent a U.S. recession. (article 3)
In Japan, foreigners learn soon enough that a one-yen coin floats on water (or beer), a perfect analogy for the last few years of the dollar's strength against Japanese currency. (article 4)
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Event tracking:
Story keywords
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yen, dollar, Index, percent, Tokyo |
Source articles
- Nikkei Falls 1.5 Percent on Weak Dollar (Washington Post, 03/16/2008, 238 words)
- Major Stock Markets in Asia Tumble (nytimes.com, 03/17/2008, 207 words)
- Asian Markets Plunge on US Woes (Washington Post, 03/16/2008, 396 words)
- Japan's Strong Yen Problem (time.com, 03/14/2008, 632 words)
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