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Nikkei dives 6.2 pct to 10-week low as Fed jitters roil markets
June 13, 2013 / 2:05 AM / 4 years ago

Nikkei dives 6.2 pct to 10-week low as Fed jitters roil markets

TOKYO, June 13 (Reuters) - Japan’s Nikkei share average plunged 6.2 percent on Thursday, snapping back into bear market territory with a vicious selloff pulling it to a 10-week low, as global markets were roiled by concerns that the U.S. Federal Reserve will roll back its massive stimulus.

Traders said the drop in both the Nikkei and the broader Topix index to below their 100-day moving average triggered stop losses, prompting more selling in index futures.

The Nikkei was down 818.55 points at 12,470.77. The benchmark has fallen more than 21 percent since hitting a 5-1/2 year peak on May 23, slumping into bear market territory.

The Topix dropped 4.9 percent to 1,043.25.

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