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Reuters - Nikkei slides 9.6 pct, may see biggest loss since '87
Wed Oct 15, 2008 10:10pm EDT Email | Print | Share | Reprints | Single Page | Recommend (-)
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Oil falls for 3rd day to 13-month low near $73
Fears of deep global slowdown hit Asia stocks
Nikkei slides 9.6 percent, may see biggest loss since '87
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TOKYO, Oct 16 (Reuters) - The Nikkei share average fell 9.55 percent on Thursday, a breath away from its biggest one-day loss since the 1987 crash, as fears grew that recent financial system rescue measures may not be enough to avert a severe recession. Shares slid across the board, with Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz) and other exporters hit especially hard as the dollar remained weak against the yen, though it had clawed back up above 100 yen and away from lows hit earlier in the day. <JPY=>
The benchmark Nikkei .N225 was down 911.91 points at 8,635.56, clinging above the 5-½ year low marked last Friday, when it plunged to 8,115.41. It has lost 23.3 percent this month. The broader Topix was down 7.6 percent to 883.21. (Reporting by Elaine Lies)
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