TOKYO – The Nikkei stock index plunged over 3 percent in early trading Monday, as investors locked in gains on heavyweight technology shares following steep losses in U.S. counterparts late last week as expectations grew for rate hikes by the Federal Reserve.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 2,440.42 points, or 3.66 percent, from Friday to 64,147.70. The broader Topix index was down 83.78 points, or 2.12 percent, at 3,865.31.
On the top-tier Prime Market, the main decliners were nonferrous metal, electric appliance and glass and ceramics product issues.
At 9 a.m., the U.S. dollar fetched 160.33-35 yen compared with 160.28-38 yen in New York and 159.94-96 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.1522-1523 and 184.73-75 yen against $1.1518-1528 and 184.57-67 yen in New York and $1.1632-1633 and 186.05-09 yen in Tokyo late Friday afternoon.
