(MENAFN- Qatar News Agency) Japan's benchmark Nikkei 225 Stock Average plummeted more than 2% Monday morning following heavy losses on Wall Street and European markets.
The Nikkei lost 439.92 points, or 2.26%, to trade at 18,995.91, falling below 19,000 for the first time in five months.
Exporters traded broadly lower as the yen rose against the dollar. A stronger yen makes Japanese products less competitive abroad and hurts repatriated earnings.
The dollar traded at 121.75-78 yen, down from Friday's 5 pm quote of 122.89-90 yen.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.