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Nikkei tumbled 2.8% today as high oil prices and the yen's surge prompted investors to dump major exporters. Other Asian currencies rose in tandem with the yen after senior finance and central bank officials from the world's largest economies ended their meeting in Washington with a call for China to allow its yuan to strengthen. This caused a drop in the US dollar.
The nikkei index drop of 489 points is causing some nervousness in the world's stockmarkets.
It has been going up for months so a drop of this magnitude is just a ripple in the overall uptrend.
