Nikkei sinks over 1,000 points on weak chip stocks ahead of U.S. data

The Nikkei index sank over 1,000 points Friday, led by a sharp drop in chip stocks in cautious trading ahead of U.S. employment data due out later in the day and next week's U.S. presidential election next week.The decline on the Nikkei benchmark index marked its largest point drop since Sept. 30. Analysts said fears of market volatility have risen as the U.S. race looks too close to call, while political uncertainty continues to affect sentiment in Japan after the ruling bloc lost its lower house majority in Sunday's general election.The 225-issue Nikkei Stock Average ended down 1,027.58 p…READ FULL ARTICLE