/www.fxserver.com/ TOKYO (AP) -- Tokyo stocks slid Thursday morning, on Wall Street's decline and worries that the United States is edging toward a war with Iraq. The dollar dropped against the yen.
The benchmark 225-issue Nikkei Stock Average closed the morning down 37.73 points, or 0.45 percent, to 8,306.28 points. On Wednesday, the Nikkei closed down 166.72 points, or 1.96 percent, to 8,344.01 points.
The dollar bought 121.08 yen at 11 a.m. Thursday, down 0.16 yen from late Wednesday, and below its level of 121.11 yen in New York Wednesday.
Led by technology blue chips, the Nikkei turned lower in the opening minutes, falling to 8256.52 points -- below a 19-year closing low of 8,303.39 reached on Nov. 14.
But by the midday break, shares had pared losses in thin year-end trading. Advantest, Tokyo Electron, Kyocera, Sony, and Fujitsu were all lower at midday.
The Nikkei's fall weighed on the broader market index, which had renewed an 18-year low Wednesday.
The Tokyo Stock Price Index of all issues on the exchange's first section fell 4.49 points, or 0.55 percent, to 811.25 points. On Wednesday, the TOPIX fell 16.18 points, or 1.94 percent, to close at 815.74 points -- its lowest closing level since Nov. 2, 1984, when it was at 815.32.
In New York on Wednesday, Micron Technology's report of an unexpectedly large loss prompted a sell-off on Wall Street, as investors unloaded stocks on renewed anxiety about the strength of corporate profits.
The Dow Jones industrial average dropped 88.04, or 1 percent, to close at 8,447.35 Wednesday. The broader market Nasdaq composite index declined 30.54, or 2.2 percent, to 1,361.51.
In currencies trading, the dollar declined against most other major currencies overnight on concerns that the Washington may be leaning toward war with Iraq.
Officials in President Bush's administration said Wednesday he has decided to condemn Iraq's weapons disclosure as full of omissions and deceptions. While they said the declaration would not immediately find Saddam Hussein in "material breach" of the United Nations, it would put Washington one step nearer to pursuing war.
With few incentives and the year-end holiday approaching, currency trading is expected to be light Thursday in Tokyo.
The euro bought 124.16 yen Thursday morning, down from 124.48 yen late Wednesday. Against the dollar, the euro was at $1.0244, down from $1.0265 late Wednesday.
The yield on the benchmark 10-year government bond was quoted at 0.9450 percent Thursday morning, unchanged from late Wednesday. Its price was flat at 100.50.