Japan's Nikkei 225 index plunges 7% as worries over US economy shake world markets

Japan's benchmark Nikkei 225 stock index has fallen as much as 7.1% before recovering some lost ground, extending sell-offs that shook markets last week. The index was down about 6% as the market began a midday break. Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. Early Monday, the futures for the S&P 500 and the Dow industrials were down more than 1%. A report Friday showing hiring by U.S. employers slowed last month by much more than expected has sent fear through markets, vanquishing the euphoria that had taken the Nikkei to all-times highs earlier this year.