TOKYO— Japan's Nikkei stock index plummeted 9.4 percent to close at a five-year low on deepening fears over the global financial crisis.

The benchmark index today nose-dived 952.58 points to 9,203.32, the lowest finish since June 2003 and the steepest fall since a 15 percent drop in the October 1987 "Black Monday" crash. The index has lost 24 percent in the last two weeks.

The broader Topix index declined 76.64, or 7.8 percent, to 900.97, also the biggest loss in 21 years.

The dollar also fell below 100 yen.