Nikkei ends at 3-month low on Wall St. declines, lackluster earnings

©Kyodo News

Tokyo stocks dropped Wednesday, with the Nikkei closing at its lowest level in three months, following steep losses overnight on Wall Street for a second consecutive day and disappointing Japanese corporate earnings outlooks.

The 225-issue Nikkei Stock Average ended down 461.08 points, or 1.61 percent, from Tuesday at 28,147.51, its lowest closing level since Feb. 1. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 27.97 points, or 1.47 percent, lower at 1,877.95.

Decliners were led by marine transportation, oil and coal product, and iron and steel issues.