The Nikkei dropped
1.7 percent to 15,431.85 in mid-morning trade after falling to as low as
15,377.64, the lowest since Dec 18. The index is about to fall below 15,337.99,
a 38.2 percent retracement of the rise to a December high from a October low.
On Dec. 30, the Nikkei reached as high as 16,320.22, the highest level in six
years.
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