The Tokyo stock market is seeking its downside, with the 225-issue Nikkei average plunging close to 10,000 amid concern over global economic and corporate earnings prospects.
Uncertainty has increased over the U.S. economic outlook. In August, for example, consumer confidence weakened from the previous month, betraying earlier expectations that it would pick up thanks to tax cuts.
But the subsequently released National Association of Purchasing Management's monthly index shows the largest growth in manufacturing activity since June 1996, confirming that the U.S. manufacturing industry is starting to bottom out.
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