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From Times Staff and Wire Reports

Nikkei Falls Below 20,000: Tokyo stocks fell to their lowest level in 17 months today, pushing the Nikkei average down through the key 20,000-point threshold. The decline was due to institutions clearing portfolios before closing their books at the end of the fiscal year March 31, brokers said. The 225-share average was down 456.96 points, or 2.2%, to 19,999.10 in early-afternoon trading. Apart from the end-of-year unwinding, the market is plagued with a slowing economy, falling corporate profits and continuing political scandals. The Nikkei last broke 20,000 on Oct. 1, 1990, hitting 19,781.70 before rallying to close at 20,221.86. The last time it ended the day below 20,000 was Feb. 23, 1987.

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