Japanese equities plunged on Tuesday amid on-going worries over global economic slowdown and concerns that firms will slash profit forecasts. Increased risk-aversion among investors after the IMF cut its global growth forecast sent Japan's shares lower. Meanwhile, market players remained cautious ahead of the EU officials' meeting due later in the week. The Nikkei 225 Index sank 1.06% to close at 8,769.59. All but one sector within the index tumbled. The only gainer was health care industry, with Astellas Pharma and Chugai Pharmaceutical climbing 0.52% and 1.42%. Dragging Japanese stock index lower, utilities and technology companies retreated by 2.73% and 2.30%. Chubu Electric Power and Kansai Electric Power slumped 7.03% and 7.31% while Canon and Mitsumi Electric fell 1.38% and 4.51%. Sharp was the top-loser, shedding 14.69% after Goldman Sachs lowered its company's rating to ‘sell' from ‘neutral'. Pioneer dropped 5.88% after stating that it can incur a net loss of 4.8 billion Yen in six months ended September 30.