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Tokyo stocks open down 1.90%

Tokyo stocks open down 1.90%

Tokyo stocks opened sharply lower on Wednesday

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By AAP | 28.08.2013

Tokyo stocks opened sharply lower on Wednesday, plunging 1.90 percent following a fall on Wall Street as US forces readied to take military action against Syria.

The benchmark Nikkei 225 index was down 257.34 points to 13,285.03 at the start.

The Dow Jones Industrial Average on Tuesday fell 1.14 percent to 14,775.90 as the West moved closer to a strike against Syria in response to its alleged use of chemical weapons against civilians.

Warnings from the United States, France and Britain that Damascus would be held accountable for the August 21 attack sparked market worries of a possible broader conflict.

European stocks also dropped while the price of oil shot up.

The dollar fell to 96.91 yen in early Asian trade Wednesday from 97.01 yen in New York Tuesday afternoon and rates above 98.00 yen in Tokyo Tuesday.

The euro bought $1.3388 and 129.85 yen compared with $1.3391 and 129.88 yen in US trade.

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