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Tokyo: Stocks open 0.34% lower

[TOKYO] Tokyo stocks opened 0.34 per cent lower on Wednesday, tracking sharp losses on Wall Street.

The Nikkei 225 index at the Tokyo Stock Exchange lost 63.77 points to 18,601.34 at the start.

US stocks dropped Tuesday on renewed worries about higher interest rates and the soaring dollar.

The Dow Jones Industrial Average slumped 1.85 per cent to 17,662.94, while the broad-based S&P 500 fell 1.70 per cent to 2,044.16.

The dollar pushed to multi-year highs against the euro and the yen amid elevated expectations that the Federal Reserve will raise near-zero rates more quickly than previously anticipated after Friday's strong US jobs report.

The greenback was at 121.06 yen early Wednesday, compared with 121.07 yen in New York late Tuesday.

The euro bought US$1.0711 and 129.68 yen against $1.0698 and 129.53 yen in US trade Tuesday.