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Nikkei drops about 4% as Asian markets follow Wall Street’s plunge

MarketWatch
Nikkei drops about 4% as Asian markets follow Wall Street’s plunge

Asian stocks plummeted in early trading Thursday following the skid on Wall Street. Japan’s Nikkei NIK, -3.77%   fell about 4% as stocks got added pressure from the yen’s overnight bounce. The dollar was just above ¥112, versus ¥112.36 in late New York trade and ¥113 Wednesday morning. Through Wednesday, the dollar had fallen five straight days versus the yen USDJPY, -0.05%   and logged the biggest week-long drop since February, at 2%. And with a late drop in Treasury yields during U.S. trade, 10-year JGB yields were down a basis point at 0.14% and 30-years were down two basis points at 0.92%. Losses were widespread across all sectors, with SoftBank Group 9984, -5.53%   and robotics company Fanuc