Tokyo Stocks Sharply Lower
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<i> Reuters</i>
TOKYO — Tokyo stocks plunged nearly 5% in hectic trading today as the Persian Gulf crisis continued to hit investors’ confidence.
The Nikkei index closed down 1,108.70 points, or 4.75%, at 22,250.62, after falling 418.51 points Tuesday. Heavy selling by institutions and foreign houses pushed share prices down to levels not reached since the beginning of 1988.
The decline was the ninth-largest point drop in the history of the benchmark Nikkei average.
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