Tokyo stocks tumble as oil price plummet triggers broad selloff

Tokyo stocks tumbled Wednesday morning as the ongoing downtrend in oil prices coupled with concerns for the outlook of the global economy contributed to a dire market mood.

The 225-issue Nikkei Stock Average lost 367.04 points, or 2.15 percent, from Tuesday to 16,681.33, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 28.30 points, or 2.04 percent, at 1,362.11.

On the main section all industry sections retreated into negative territory, with major decliners by the break comprising mining, marine transportation, and oil and coal-linked shares. Endit