Tokyo market in freefall after Wall Street plunge

Tokyo (dpa) - The Tokyo stock market plummeted in early trading Thursday after Wall Street's blue-chip Dow Jones industrials lost nearly 8 per cent overnight amid growing recession fears in the United States and worldwide.

The benchmark Nikkei 225 Stock Average plunged 911.91 points, or 9.55 per cent, to 8,635.56.

The broader Topix index of all first-section issues dropped 72.3 points, or 7.57 per cent, to 883.21.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 99.30-35 yen, down from Wednesday's 5 pm quote of 101.28-30 yen.

The euro was quoted at 1.3434-39 dollars, down from Wednesday's 5 pm quote of 1.3592-94 dollars, and at 133.42-47 yen, down from 137.66-70 yen.