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Tokyo stocks fall over U.S. recession fears

0 Comment(s)Print E-mail Xinhua, March 11, 2025
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TOKYO, March 11 (Xinhua) -- Tokyo stocks fell on Tuesday amid growing concerns over a U.S. recession and weaker-than-expected domestic economic data.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 36,793.11, down 235.16 points, or 0.64 percent from the previous day.

Market selloff gathered pace over worries that a wide-ranging trade war could hurt U.S. economic growth and lead to a recession. The Dow Jones Industrial Average had dropped over 1,100 points overnight, further dampening sentiment.

Japan on Tuesday revised its GDP growth for the fourth quarter to an annualized 2.2 percent, down from the preliminary estimate of 2.8 percent that reflected weaker consumer spending and inventories.

Rising expectations of a Bank of Japan rate hike also pressured markets. The 10-year government bond yield briefly hit its highest since 2008, while the yen strengthened to 146 per dollar, affecting export-oriented and inbound tourism-related stocks.

The Tokyo Stock Price Index (TOPIX) extended its decline, closing down 30.04 points, or 1.11 percent at 2,670.72. Enditem

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