Nikkei plunges over 4% on Middle East concerns, oil price surge

TOKYO - The Nikkei stock index dropped over 4 percent Wednesday afternoon, dragged down by growing concern over the conflict in the Middle East and surging oil prices.

At 12:55 a.m., the 225-issue Nikkei Stock Average fell 2,405.68 points, or 4.27 percent, from Tuesday to 53,873.37. The broader Topix index was down 163.71 points, or 4.34 percent, at 3,608.46.