Nikkei Closes at 2 1/2-Year Low
<i> Associated Press</i>
TOKYO —
The chief index on the Tokyo Stock Exchange sagged to its lowest close in 2 1/2 years today, while the dollar strengthened against the Japanese yen.
The 225-issue Nikkei Stock Average lost 158.65 points, or 0.66%, closing at 23,726.17. It was the Nikkei’s lowest finish since Feb. 9, 1988, when it ended trading at 23,662.27.
On Tuesday, the closely watched index fell at one point to 23,308.31 before recovering in the afternoon to 23,884.82.
Stock traders said investor pessimism--spurred by uncertainty over the Mideast, inflation concerns and rising oil prices and interest rates--was continuing to pull the market down.
