Friday, March 22, 2013
Nikkei Closes With 2nd-Largest Loss For 2013
TOKYO (NQN)--Tokyo stocks fell back for the first time in three trading days Friday, with the Nikkei Stock Average tumbling 297.16 points, or 2.35%, to end the day at 12,338.53, its lowest point of the day.
The day's losses were the second biggest this year.
The yen's rise and losses on overseas markets overnight, triggered by concerns about the financial crisis in Cyprus, prompted Tokyo investors to sell exporters and high-priced stocks to lock in recent gains.
After the euro was dumped heavily against major currencies on the Tokyo market, the Nikkei average widened its losses to nearly 300 points.