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Japanese shares plummeted on Tuesday after a drop on Wall Street and a rise in the yen.
The benchmark Nikkei 225 Stock Average dipped below the symbolically significant 14,000 mark for the first time since October 9 before rallying, to close the day down 610.66 points, or 4.17 per cent, at 14,008.47, while the broader-based Topix index was down 57.05 points, or 4.77 per cent, at 1,139.27.
On Monday in the United States, the S&P 500 index fell 2.3 per cent to 1,741.89, and the Dow Jones Industrial Average closed down 326.05 points, or 2.1 per cent, to 15,372.80, after manufacturing data showed less recovery than anticipated.
The yen rose to trade at 101.17 to the dollar. A strong currency makes Japanese-made exports more expensive overseas and erodes repatriated earnings.
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