Japan's Nikkei hits lowest in nearly 3 months on global recession fears [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Reuters
sank deeper into a bear market and following a report that Apple dropped plans for more iPhones. The Nikkei share average declined 2.21% to 25,984.51 by the midday break, falling below the psychological 26,000 level for the first time since July 4. The index slipped steadily after opening about half a percent lower. Selling accelerated mid-morning, around the time Bloomberg reported Apple would drop a plan to boost production of its new smartphones after an anticipated demand surge failed to materialise. Of the benchmark's 225 constituents, 220 stocks fell, three rose and two traded flat. Every sector declined, including energy, which had been sharply higher for much of the morning after crude oil rebounded from multi-month lows overnight. Its 1.08% fall was the most moderate, while real estate was the worst performer with a 3.15% drop. The broader Topix slid 1.72% to 1,840.78. The big decline comes as Japan heads into the final days of its fiscal first half. “Apple's de
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