TOKYO, June 21 — Tokyo’s key Nikkei index was down over three per cent by the midday break Monday, tracking losses on Wall Street as investors digested Federal Reserve messaging on more restrictive monetary policy.
“Tokyo shares have been sold as investors were disheartened by falls in US shares,” senior strategist Yoshihiro Ito of Okasan Online Securities said in a note. Expectations of a Fed rate hike sent US Treasury yields higher and pushing down stocks and the dollar. “Bullard is not a voting member this year and has a history of being very dovish and very hawkish, still, given market sensitivity, Bullard’s interview contributed to” volatility, Catril said.
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