Nikkei ends down 2.3%

Nikkei ends down 2.3%
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First Published: Tue, Aug 19 2008. 11 35 AM IST
Updated: Tue, Aug 19 2008. 11 35 AM IST
Reuters
Tokyo: The Nikkei average sank 2.3% to a one-month low on Tuesday, led down by exporters and banks after investors were hit again by recurring fears that US financial woes are far from over.
The broad sell-off came after US stocks fell sharply on the prospect of more losses from the mortgage crisis, with shares in Fannie Mae and Freddie Mac tumbling after Barron’s reported the US Treasury may need to bail out the home finance giants.
The benchmark Nikkei ended down 300.40 points at 12,865.05. The broader Topix declined 2.2% to 1,235.54.
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First Published: Tue, Aug 19 2008. 11 35 AM IST
More Topics: Markets | Japan | Stocks | Nikkei | Topix |