Nikkei tumbles over 3% in morning on concern over global economy

Nikkei tumbles over 3% in morning on concern over global economy

Tokyo stocks plunged Monday morning, with Nikkei index shedding over 3 percent, on rekindled concerns over the global economy following the release of sluggish U.S. and European economic data.

The 225-issue Nikkei Stock Average shed 697.07 points, or 3.22 percent, from Friday to 20,930.27. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 44.01 points, or 2.72 percent, at 1,573.10.

Decliners were led by oil and coal product, marine transportation and nonferrous metal issues.

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