Japan's Nikkei Average Closes at Lowest Level Since December 2018

Tokyo's benchmark Nikkei index dropped 2.3 percent on Wednesday on profit-taking as trading remained volatile amid the coronavirus outbreak.

The index lost 2.27% to reach 19,416.06 points, its lowest level since December 2018.

The broader Topix index lost 1.53% to reach 1,385.12 points, its lowest point since November 2016.

Nikkei 225 is down a bit right now.

Probably because our futures are down a bit right now. pic.twitter.com/3zjRr1BFhs

— grimacemcdonald (@grimacemcdonal1) March 11, 2020

​Earlier, the Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, closed up 1,167 points, or 4.9 percent, at 25,018. The Dow fell 2,014 points on Monday, its most ever in a day, closing 7.8 percent down after a crash in oil prices and panic selling induced by fears over the coronavirus.

On Monday, coronavirus and OPEC+ failure to agree on a deal extension sent global markets into a tailspin. However, on Tuesday, major European stock indexes closed down 0.3-1.5 percent after dropping around 8 percent the previous day.