Japanese Stocks Plunge Most in Two Years, Entering Correction
People look at an electronic stock board displaying the day's movements of the Topix index outside a securities firm in Tokyo, Japan.
Photographer: Yuriko Nakao/BloombergJapanese stocks plunged the most in more than two years, with the Topix index and the Nikkei 225 Stock Average entering corrections on elevated volume.
Real-estate and bank shares led declines, with Mitsubishi UFJ Financial Group Inc. sinking 8.3 percent. Toyota Motor Corp. fell 6.8 percent, the steepest single-day loss since the Fukushima nuclear meltdown more than four years ago, after extending a shutdown at its biggest source of production in China. An index of small-cap stocks in Tokyo dived 12 percent to the lowest since May 2014. Energy explorer Inpex Corp. dropped 4.2 percent as crude oil futures tumbled.