Toshiba shares plunge after forecasting €4.2bn loss

Toshiba shares fell to the lowest in more than six years in Tokyo after forecasting a record 550bn yen (€4.2bn) loss, while Moody’s cut its credit rating two levels into junk territory.

The shares finished down 12% yesterday, their lowest since March 2009.

The Japanese company has lost about $2bn (€1.83bn) of market value over the past two days.