(Updates with close)
TOKYO Oct 10 Japan's Nikkei stock average dived
9.6 percent on Friday, its biggest one-day loss since the 1987
stock market crash, on growing fear the financial crisis will
spark a global recession.
The benchmark average's drop of 24 percent for the week was
more than double the weekly drop right after the 1987 market
The market mood, which was bleak after a fall in New York
shares and news that a Japanese real estate investment trust had
failed, turned even darker after a bankruptcy filing by unlisted
Yamato Life Insurance. [ID:nTKB003055]
The benchmark Nikkei .N225 shed 881.06 points to 8,276.43,
its lowest close since May 2003. At one point it lost more than
The broader Topix .TOPX lost 7.1 percent to 840.86 after
earlier falling more than 8 percent.
(Reporting by Elaine Lies)