The Tokyo Stock Exchange was shaken Tuesday by successive plunges in share prices around the globe; trading closed with the benchmark Nikkei average falling to 16,312.69, the lowest since July 1995.
The 725.67-point fall, representing 4.3 percent, from Monday was the year's third biggest decline. The Topix index of all issues came to 1,263.11, down 49.34 points.
Top government and political figures, including Prime Minister Ryutaro Hashimoto, attempted in the morning to prevent panic selling by reiterating that authorities will continue to keep close tabs on the TSE following the plunge Monday in New York. Hashimoto told reporters that the NYSE drop in percentage terms was much less than the free fall experienced on "Black Monday" 10 years ago.