Japan's Nikkei drops 5 percent after Wall Street slide deepens [CNBC]
Toyota Motor Corporation (TM)
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Source: CNBC
Japan's Nikkei retreated to a 20-month low on Tuesday after a slide on Wall Street deepened with a series of unnerving U.S. political developments. The Nikkei share average ended the day down 5.01 percent at 19,155.74 after brushing 19,117.96, its lowest since late April 2017. The day's performance put the index well into bear market territory — off more than 20 percent since its October high. Japan's broader Topix closed 4.88 percent lower at 1,415.55 after touching 1,412.90, its weakest since November 2016. Meanwhile, in China , the Shanghai Index posted losses of more than 2 percent by mid-day, but then gained some ground back into the afternoon. Chinese sectors lost ground across the board, led by financial shares and energy firms as oil prices slumped. So far this year, the Shanghai stock index is down about 24 percent. Those Asia moves followed Wall Street stocks extending their steep sell-off on Monday, with the S&P 500 down nearly 15 percent
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