Briefly

JAPAN

Nikkei sees biggest rout since 1987

Japanese stocks collapsed on Monday in their biggest single-day rout since the 1987 Black Monday sell-offs, driven by last week's plunge in global stock markets, economic concerns and worries that investments funded by a cheap yen were being unwound. The Nikkei share average shed a staggering 12.4 percent as Friday's dismal jobs data heightened worries of a possible recession, and as the yen rallied to seven-month highs versus the dollar. This was the index's worst showing in percentage terms since the October 1987 crash. Japanese Finance Minister Shunichi Suzuki said the government was monitoring markets with "grave concern". "It's hard to say what is behind the decline in stocks," Suzuki told reporters.

NIGERIA

President urges end to deadly protests

Nigerian President Bola Tinubu on Sunday appealed for the ongoing cost-of-living protests across the country to be halted, urging protesting citizens to make room for dialogue with the government. Delivering a national broadcast on Sunday morning, Tinubu expressed bitterness over the loss of lives and destruction of public and private facilities during the protests so far, saying the development is contrary to the promise of organizers of the protests, which began on Thursday. Protests ebbed on Monday, according to Reuters.

UNITED STATES

Hurricane Debby to bring heavy flooding

The center of Hurricane Debby reached Florida early on Monday, bringing potential record-setting rains, catastrophic flooding and a life-threatening storm surge as it moves slowly across the northern part of the state before stalling over the coastal regions of Georgia and South Carolina. Debby was located about 161 kilometers west of Tampa, Florida, with maximum sustained winds of 120 kilometers per hour. The storm was moving north at 19 kph, the National Hurricane Center in Miami said on Sunday evening.

Agencies - Xinhua