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Fears are growing in Japan that the relentless slide in Tokyo's stock market might topple companies or major banks and further harm the already hobbled economy at a time when the government is finally getting serious about solving the nation's debt mess.
The main index on the Tokyo Stock Exchange plunged again Thursday, closing at a new 19-year low for the third time this week. The 225-issue Nikkei Stock Average fell 1.17 percent to 8,439.62 points, its lowest finish since April 8, 1983.
"Japan is going to sink and turn into a nation of beggars," said Masaoki Takahashi, 58, whose land development business has been struggling to obtain bank loans. "It's a big mess."
Like many Japanese, Takahashi was worried that Prime Minister Junichiro Koizumi seemed to have no plan to salvage the economy.
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