Japan's Nikkei 225 index plunges nearly 7% as global sell-offs resume

Japan's benchmark Nikkei 225 stock index has fallen nearly 7%, extending sell-offs that shook markets last week. The Nikkei had shed more than 2,400 points to 33,488.08 about a half-hour after opening but stabilized somewhat after that. The index was down about 6.1% about an hour after trading began. Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. World shares have tracked that decline. A report showing hiring by U.S. employers slowed last month by much more than expected sent fear through markets, vanquishing the euphoria that had taken the Nikkei to all-times highs earlier this year.