Nikkei 225 drops on disappointment after Fed announcement

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Source: Dukascopy Bank SA
Japan's Nikkei Stock Average erased previous days sharp gains and plunged on Friday to a 3-week record drop after Federal Reserve damped expectations for easing. Nikkei 225 fell 2.09% or 180.46 points and ended at 8,459.26. Exporters returned to loses after Yen strengthened 0.7% against Euro and Spain was downgraded by Fitch. Sony Corp. and Sharp Corp. each dropped 5.3%. Olympus shed 4%. After session close company announced it plans to cut 2700 jobs. 

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Fri, 08 Jun 2012 09:38:28 GMT

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