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Tokyo stocks fall to 14-month low after Fed signals rate hikes

TOKYO, Jan 27 (KUNA) -- Tokyo stocks plummeted on Thursday, sending a key index to end at a 14-month low after the US Federal Reserve indicated an imminent interest rate hike.
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) lost 841.03 points, or 3.11 percent, from Wednesday to 26,170.3, the lowest closing level since Nov. 24, 2020.
The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, also shed 49.41 points, or 2.61 percent, to 1,842.44.
Investor sentiment was dented as the US central bank signaled Wednesday that it plans to start raising interest rates soon.
Fed Chairman Jerome Powell said at a press conference that he believes there is quite a bit of room to raise interest rates. (end) mk.rk