Tokyo stocks drop on plunges in U.S. retail sales, factory output

Tokyo shares fell Thursday morning as investors grew concerned about the outlook for the U.S. economy after data showed plunges in retail sales and industrial output in March amid the coronavirus pandemic.The indication of the unprecedented scale of economic damage led market players to buy the U.S. dollar, sending it higher even against the yen, another currency usually seen as a safe-haven asset.The 225-issue Nikkei Stock Average lost 234.64 points, or 1.20 percent, from Wednesday to 19,315.45. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 13.95 poi…

Read More