Japanese stocks have recorded their biggest losses since October 1987, extending last week’s sell-off spurred by concerns the United States economy may be weaker than previously thought. The Nikkei share average was down 10.01 percent or 3,595.30 points to 32,314.40 in the early afternoon, its lowest in months.
US stocks sold off for a second straight session on Friday after a weak jobs report raised fears of an oncoming recession and expectations that the Federal Reserve will make a hefty rate cut in September. The prospect of lower interest rates weighed on the dollar, boosting the yen.
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