TOKYO, Aug 5 (Bernama-Kyodo) -- The Nikkei stock index closed with its largest single-day point drop in history on Monday, tumbling over 4,400 points and down over 12 per cent, hit by concerns over a US recession and a firming yen, Kyodo news agency reported.
The US dollar plunged by nearly 5 yen from late last week to a fresh seven-month low in the upper 141 yen zone amid growing speculation that the Federal Reserve will cut interest rates significantly in September.
The 225-issue Nikkei Stock Average ended down 4,451.28 points, or 12.40 per cent, from Friday at 31,458.42. The broader Topix index fell 310.45 points, or 12.23 per cent, to 2,227.15.
--BERNAMA-KYODO
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