May 23, 2013
By Scott Walker
The Tokyo stock market has suffered its biggest one-day loss in more than two years.
The Nikkei Index plunged 1,143 points, which is 7.3%.
The index retreated from recent 5-1/2 year highs because of rising bond yields, along with signs that China’s manufacturing sector is shrinking.
China is the world’s second biggest economy.
Other Asian markets tumbled as well. Hong Kong’s Hang Seng lost 2.5%.
And European markets have joined the retreat. Germany’s DAX is off more than 2%. London’s FTSE is lower by almost 2%.