Nikkei opens down over 3% on US rate hike fear

Tokyo's key Nikkei index tumbled just over three per cent after the open on Monday, tracking losses on Wall Street as investors digested Federal Reserve messaging on more restrictive monetary policy.

The benchmark Nikkei 225 index was down 3.01 per cent or 870.79 points to 28,093.29 just over 30 minutes after the opening bell, while the broader Topix index was down 2.44 per cent or 47.51 points to 1,899.05.