Nikkei slumps 3% as earnings disappoint

The Nikkei tumbled 3% on Friday to touch its lowest level for almost three weeks as the yen strengthened against the dollar.

The Japanese index closed 433 points down on Friday at 14,130, as the yen rose 0.6% against the dollar. The greenback fell to 98.87 against the yen overnight after a Wall Street Journal report suggested the US Federal Reserve is considering changing its forward guidance to stress that interest rates will remain low for a long time. As the dollar fell, gold headed for its best month since January 2012, with the spot price edging up to $1,335.6. In Japan, the Nikkei struggled amid disappointing company earnings, with companies like Canon, Toyota Motor and Honda Motor posting weak res...