TOKYO — Japanese stocks fell sharply on Monday morning as investors reacted to the election of Shigeru Ishiba as leader of the ruling Liberal Democratic Party.
The Nikkei Stock Average was at one point down 1,900.84 points, or 4.8%, at 37,928.72. The broader Tokyo Stock Price Index lost 103.97 points, or 3.8%, to 2,636.97. The yen gained 0.9% against the dollar and strengthened to 142.25.