Japan braced for global market turmoil Friday as the yen briefly soared above 100 against the dollar and the Nikkei stock average tumbled over 8 percent as Britain voted in favor of leaving the European Union.
The yen briefly touched 99 to the dollar — the highest since November 2013 — before retreating to 103.08 as of 5 p.m. in Tokyo. The benchmark Nikkei 225 tumbled by 1,286 points, or 7.92 percent, to close the day's trading on the Tokyo Stock Exchange at 14,952, the biggest dive in 16 years.
Finance Minister Taro Aso indicated that the ministry was ready to intervene in the markets if necessary.