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Article: Japanese stock market tumbles 2.8 percent on yen's surge; major exporters tumble
- Article from:
- AP Worldstream
- Article date:
- April 24, 2006
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AP Worldstream
04-24-2006
Dateline: TOKYO
Japan's benchmark stock index tumbled 2.8 percent Monday, it's biggest one-day drop since January, as the yen's surge prompted investors to dump major auto and electronics exporters.
The Nikkei 225 index fell 489.56 points to 16,914.40 points, the lowest close since March 28.
In percentage terms, it was the biggest drop since Jan. 18, when the market fell 2.9 percent. By points, it was the largest decline since May 10, 2004, when the index lost 554.12 points.
Stocks fell in reaction to the surge in oil prices and the yen, which gained after senior finance and central bank officials from the world's largest economies ended their meeting in Washington ...