MARKETS

Tokyo Market Drops in Early Trading: Japanese stocks fell to a three-week low today after an unexpected surge in U.S. jobs signaled that interest rates may be forced higher globally by the threat of inflation. All of the Topix index’s 33 industry groups’ stocks fell. Interest rate-sensitive groups, such as insurance, real estate and steelmakers, declined the most. The benchmark Nikkei 225 stock average fell 236.64, or 1.06%, to 21,995.78, the lowest since June 12. The dollar rose, topping 111 yen for the first time since January 1994 on expectations U.S. interest rates may rise.