FOCUS: Japan faces economic stagnation as stocks plunge after rate hike

Japan faces the threat of economic stagnation as panic selling gripped the Tokyo stock market, triggered by economic uncertainty and the Bank of Japan's surprise interest rate hike amid low private spending.The Nikkei stock index plunged over 2,000 points less than an hour after the 9 a.m. start of trading Friday, with investor sentiment chilled by concerns over a U.S. recession following weaker-than-expected economic data.The plummet marked the Nikkei's second-largest point drop on record since Oct. 20, 1987, when the benchmark plunged 3,836 points the day after the Black Monday stock mark…READ FULL ARTICLE