Tokyo stocks plunged Tuesday, with the benchmark Nikkei 225 average briefly losing more than 1,000 points before ending at a four-month low as part of a wider global market rout driven by concerns that a surge in coronavirus infections outside China could dent global economic growth.
With hopes fading that the outbreak had been contained in Asia, markets in Europe and the U.S. tumbled sharply the previous day. The Tokyo Stock Exchange suffered its biggest one-day loss in 14 months Tuesday, with marine transportation and metal product issues among the hardest hit, while investors fled to the safety of government debt and gold.
The Nikkei plummeted 781.33 points, or 3.34 percent, from Friday to 22,605.41, marking its lowest close since Oct. 21. Japanese financial markets were closed Monday for the Emperor's Birthday, a national holiday.