Tokyo stocks end with third-biggest loss this year

Tokyo stocks plummeted on Wednesday, sending a key index to end with this year's third-biggest daily loss following a sell-off on Wall Street overnight. The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) fell 1,638.70 points, or 4.24 percent, from Tuesday to 37,047.61, finishing with the third-biggest single-day point loss this year. The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, also shed 99.78 points, or 3.65 percent, to 2,633.49. Sell orders overwhelmed from the morning after US shares sank Tuesday. The Dow Jones Industrial Average fell 1.5 percent, while the tech-heavy Nasdaq Composite tumbled 3.3 percent. At a press conference in the morning, Chief Cabinet Secretary Yoshimasa Hayashi said the government believes it is important to make calm decisions. "We will continue to monitor developments in the economy and financial markets at home and abroad with a sense of urgency, and will take all possible measures for economic and fiscal management," the top government spokesman said. Source: Kuwait News Agency