Automakers Lead Sharp Selloff Worldwide

Nikkei drops 4.5%, Europe opens down
By Jason Farago,  Newser Staff
Posted Mar 30, 2009 5:35 AM CDT
Automakers Lead Sharp Selloff Worldwide
Japanese stocks tumbled Monday, hit by mounting concerns about the future of the US auto industry. The benchmark Nikkei 225 stock average lost 390.89 points, or 4.5 percent, to 8,236.08.   (AP Photo/Shizuo Kambayashi)

Stocks in Asia and Europe plummeted today amid global fears for the auto industry and hesitation that this week's G20 summit in London might not deliver on ambitious goals. In Tokyo the Nikkei dropped 4.5%, with Toyota, Honda and Nissan all posting substantial falls. At midmorning stocks in London, Paris and Frankfurt were all down, with automakers and banks leading losses.
(More Asian markets stories.)

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