Nikkei Average Falls Over 700 Points Briefly

Jiji Press

10:26 JST, May 24, 2024

TOKYO (Jiji Press) — Japan’s Nikkei 225 stock average briefly plunged over 700 points in Tokyo trading Friday morning, dragged down by Wall Street’s overnight losses.

Japanese stocks fell on a broad front after U.S. shares dropped Thursday amid concerns that the Federal Reserve is unlikely to cut interest rates anytime soon, brokers said.

The Nikkei index was down 594.36 points, or 1.52%, at 38,508.86 at 9:42 a.m.