TOKYO, Feb 28 (Reuters) - Tokyo's Nikkei average tumbled more than 3 percent on Wednesday morning, on track for its biggest loss in eight months, as investors rushed to unload everything from Sony Corp. (6758.T: Quote, NEWS , Research) to Softbank Corp. (9984.T: Quote, NEWS , Research) as part of a sell-off in markets around the world.
The fall was greater on the TOPIX index, the broadest measure of the Tokyo stock market. The capital-weighted TOPIX plunged nearly 4 percent, hit by declines in Nippon Steel Corp. (5401.T: Quote, NEWS , Research) and other recent gainers.
The losses prompted the Tokyo stock exchange to temporarily suspend trade of TOPIX futures and limit arbitrage trade on the TOPIX.
The Nikkei <.N225> finished the morning down 3.56 percent at 17,475.07, after earlier falling as low as 17,382.79.
The TOPIX <.TOPX> slid 3.9 percent to 1,740.97, after earlier falling as low as 1,719.15.