Japanese shares drop after Wall Street takes a battering [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
Japanese shares drop after Wall Street takes a battering - Reuters 2 Min Read TOKYO, Aug 15 (Reuters) - Japanese shares slid to a nine-day low on Thursday morning as investor sentiment was battered by a big slide on Wall Street amid resurgent fears of a global recession. The Nikkei share average was down 1.3% at 20,387.17 as of 0157 GMT. The index touched 20,184.85, its lowest since Aug. 6. All three major U.S. indexes closed down about 3% on Wednesday, with the blue-chip Dow posting its biggest one-day point drop since October, after the U.S. Treasury yield curve temporarily inverted for the first time in 12 years -considered a classic recession signal. Shares of Japanese exporters retreated as the safe-haven yen strengthened against the dollar due to the widespread risk aversion. Toyota Motor Corp fell 1.1%, Honda Motor Co dropped 1.4%, Panasonic shed 2% and Bridgestone Corp was down 1.7%. Financial institutions also took a hit, as the sharp drop in bond yields was seen hurting thei
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