Nikkei stock index plunges nearly 5% on stronger yen after Ishiba win

The Nikkei stock index plunged nearly 5 percent on Monday, marking its third-biggest point loss of the year, as exporters were sold off due to the stronger yen following Shigeru Ishiba's victory in the ruling Liberal Democratic Party's leadership race late last week.Ishiba, who is set to become Japan's next prime minister, has expressed support for the Bank of Japan's efforts to normalize monetary policy and may consider raising the capital gains tax. He defeated Sanae Takaichi, a proponent of monetary easing, in a runoff election.The 225-issue Nikkei Stock Average ended down 1,910.01 point…READ FULL ARTICLE