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Tokyo: Stocks slump 1.15% to two-month low

[Tokyo] Tokyo stocks slipped 1.15 per cent to a two-month low on Friday after losses on Wall Street as traders grow concerned about the global economy while the head of the IMF warned about a eurozone recession.

The Nikkei 225 index at the Tokyo Stock Exchange fell 178.38 points to 15,300.55, its lowest since mid-August, while the Topix index of all first-section shares lost 1.40 per cent, or 17.69 points, to end at 1,243.09.

"It's been a disastrous week," said an equity trading director at a European brokerage.

"Against the backdrop of worsening economic data from Europe and the potential volatility accompanying US earnings reporting season, many investors are simply anxious to close out positions and take a break before the upcoming three-day weekend." Japanese markets will be closed on Monday for a national holiday.