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tokyo topix falls 4 percent

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    TOKYO, Aug 16 (Reuters) - Japan's broader TOPIX index dropped
    4 percent by early afternoon trade on Thursday as investors
    concerned about spreading credit woes dumped shares in banks,
    shipping and steel firms.

    Worries about a slowdown in the U.S. economy and a resurgent
    yen hit technology exporters and auto stocks, sending the Nikkei
    below 16,000 for the first time since November.

    The TOPIX <.TOPX> declined 3.66 percent to 1,535.87 as of
    0340 GMT, while the Nikkei share average <.N225> lost 3.20
    percent to 15,948.11.
 
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