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Nikkei index tumbles 2.6% on reports of Shinzo Abe's resignation

Japanese yen momentarily strengthens to 106.11 against the dollar

The Nikkei index closes 326 points, or 1.4%, lower on August 28, 2020, as investors await Japanese Prime Minister Shinzo Abe's news conference later in the day for more details regarding his resignation. (Photo by Kosuke Imamura)

TOKYO -- Japan's equity benchmark Nikkei Stock Average plunged during Friday afternoon trading, following news of Prime Minister Shinzo Abe's plan to resign due to his worsening health.

The Nikkei index dropped over 600 points, or 2.6%, at one point, to 22,594, hitting its lowest intraday level since Aug. 7. A broad sector of company stocks fell -- retail, electronic devices, services and telecoms.

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