Nikkei slumps as European worries rebound

Japan's Nikkei Stock Average tumbled 1.17% or 101.01 points to 8,552.81 on Tuesday as Fitch and Moody's sceptically evaluated the outcome of previous week's EU summit. Exporters, including car makers and technology stocks, led the drop in the index. Sony Corp. lost 2.6% and Chiyoda Corp. traded down 4.68%. Honda Motor Co. declined 2.9% and Mitsubishi Motor dropped 2.17%. On the upside was Olympus Corp. which gained 5.38%.