Nikkei posts biggest one-day loss in two years
Tuesday June 13, 2:11 am ET
TOKYO (Reuters) - The Nikkei share average plunged 4.14 percent on Tuesday to book its biggest one-day percentage loss in two years as Advantest Corp. (Tokyo:6857.T - News) and other high-tech firms fell after drops in their U.S. peers, while concerns over price competition sent flat-screen TV makers lower.
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Analysts said the market came under pressure after the news that Bank of Japan Governor Toshihiko Fukui had contributed 10 million yen to the fund run by Yoshiaki Murakami, who was arrested last week for insider trading, before he became the central bank governor.
The Nikkei (^N225 - News) lost 614.41 points to 14,218.60, the lowest close since November 16. It logged its largest one-day percentage loss since May 2004.
The Nikkei has now dropped about 20 percent since April 7 when the benchmark hit its intraday high for the year.