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Markets

Japan stocks drop to 4-month low on coronavirus fears

Investors scramble as outbreak spreads in Japan, South Korea and outside Asia

A signboard in Tokyo shows how the main gauge on the Tokyo Stock Excahnge is reacting to the latest news of the coronavirus outbreak.

TOKYO -- The Tokyo stock market declined sharply as it reopened Tuesday after a three-day weekend, following U.S. and European sell-offs on worsening American business sentiment and the spread of coronavirus infections outside China.

The Nikkei Stock Average immediately plunged 1,000 points at the opening, from Friday's close of 23,386, marking the first dip of over 1,000 points since Dec. 25, 2018.

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