Nikkei 225 Plummets Amid US Economic Concerns

Japan's Nikkei 225 index fell by 8.1% on Monday due to heavy selling over fears about the US economy. By midafternoon in Tokyo, the index was down more than 2,900 points, following a 5.8% drop on Friday. The decline is set to be the Nikkei’s worst two-day fall in history.

Japan's Nikkei 225 share index plunged 8.1% on Monday amid heavy selling driven by rising concerns over the US economy's health.

By midafternoon in Tokyo, the index had fallen more than 2,900 points to 32,991.88, following a 5.8% drop on Friday. The current decline looks set to mark the Nikkei's worst two-day performance ever.

In comparison, the Nikkei experienced its largest single-day drop of 3,836 points, or 14.9%, on Black Monday in October 1987. The latest drop follows the Bank of Japan's recent decision to raise its benchmark interest rate to the level it was a year ago.