TOKYO, Jan 6 ― Tokyo stocks plunged more than 2.8 per cent today over rekindled speculation that the US Federal Reserve may start tightening monetary policy sooner than expected.
The Fed's minutes from its December policy meeting showed central bankers saying “it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated.” Market players were shifting their focus to the US earnings season starting next week, which could provide clues to Japanese corporate performances.
Sony Group plunged 6.89 per cent to ¥14,455 after two days of rallies, and after it announced yesterday it would explore entering the rapidly growing electric vehicle market.
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