00:34⇢Tokyo Stocks Plunge Over 1,500 Points
⌨The newspapers report on a major stock market decline in Tokyo. The Nikkei average temporarily fell by more than 1,500 points, dropping below 36,000 yen to the 35,600 yen range (Nikkei Shimbun, Yahoo News Japan). This sharp decline follows significant drops in U.S. markets over concerns about economic recession and renewed inflation. The Nikkei reports that all three major U.S. indices fell for a third consecutive day on March 28th, with investors clearly moving to avoid risk. Meanwhile, discussion continues about how decades of rice production adjustment policies have led to decreased production capacity and motivation, contributing to current high rice prices (Japan Business Press).