Daily Morning News

The Nikkei 225 stock index in Japan experiences a 10% decline, marking its worst losses since 1987.

The Nikkei index plummeted by more than 3,500 points to 32,385.01 in midafternoon trading on Monday in Tokyo.

TOKYO: Japan's Nikkei 225 share index plummeted by as much as 10% on Monday due to heavy selling, sparked by concerns that the U.S. economy may be in worse condition than expected.

The Nikkei index fell by more than 3,500 points to 32,385.01 by midafternoon on Monday in Tokyo. This followed a 5.8% drop on Friday, marking its worst two-day decline ever. The largest single-day drop for the Nikkei was a plunge of 3,836 points, or 14.9%, on the infamous "Black Monday" in October 1987. Share prices in Tokyo have been falling since the Bank of Japan raised its benchmark interest rate on Wednesday, bringing the benchmark to a level similar to that of a year ago.