Nikkei 225, Asian markets plummet after sell-off in New York

Tokyo's benchmark stock index fell sharply during trading on Wednesday. This followed an overnight sell-off in New York, triggered by higher-than-expected monthly inflation figures in the US.

The Nikkei Average ended the day at 27,818. That's down 796 points or nearly 2.8 percent from Tuesday's close. Investors unloaded shares across the board.

The US inflation data has damaged confidence of investors in both New York and Tokyo. They were concerned the Federal Reserve will continue to raise rates, cooling the economy.

The Nikkei 225 had been rising for four straight trading days until Tuesday. It added more than four percent over that period. But Wednesday's drop erased much of the gains.

All other benchmark indices in the Asia-Pacific region were also down. Sydney and Hong Kong lost about 2-and-a-half percent. Seoul finished 1.56 percent lower.