TOKYO, March 3 (UPI) -- Asian markets tumbled hard Monday on worries inflation in the United States and the weakening dollar may deflate exports, a major Japanese concern.
The Nikkei 225 stock index fell 4.49 percent Monday to close at 12,992.18, down 610.84 points.
In India, the Sensex index in Mumbai plunged 900.84 points to 16,677.88 points, off 5.09 percent.
Investors worry the weakening dollar, now at 102.72 yen will hurt Japanese exports, which rely strongly on the U.S. consumer.
China's Hang Seng index also fell, down 3.07 percent, off 746.70 points at the close to 23,584.97 points.
Exports to the United States provide China with 10 to 15 percent of its economy, but the Chinese economy, growing at about 10 percent a year, has a softer position against a decline in U.S. demand, The New York Times reported.
The dollar has not been this weak in trading against the yen since January 2005, the report said.
"Though risk sensitive investors are selling the dollar, there is no real reason to buy the yen," said Koji Fukaya, an analyst with Deutsche Securities Inc. in Tokyo. "I feel the dollar decline is very close to running its course," he said.
