Stock market today: World shares are mostly lower as Tokyo sinks on stronger yen

Global markets are mostly lower and Japan’s stock index tumbled as the U.S. dollar sank against the yen after the head of the Federal Reserve suggested a cut to interest rates will come soon. The Nikkei 225 in Tokyo sank more than 1,000 points earlier in the day and ended trading down 2.5% on Thursday. Toyota's shares plunged 8.5%, even after it announced a record fiscal first quarter profit. Big technology stocks drove a rally for U.S. indexes. The S&P 500 jumped 1.6% for its best day in five months. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite soared 2.6%.