Tokyo stocks closed more than two percent lower Monday as a sharp rally after the Bank of Japan announced emergency monetary policy measures quickly fizzled. The benchmark Nikkei 225 index fell 2.46 percent, or 429.01 points, to 17,002.04 while the broader Topix index ended down 2.01 percent, or 25.36 points, at 1,236.34. "The Lehman Brothers in 2008 was a financial crisis but what we are seeing now is a health crisis," Mutsumi Kagawa, global strategist at Rakuten Securities, said of the new coronavirus outbreak. "Authorities are pushing ahead with monetary easing and economic packages but it's not providing a direct cure for the pandemic," he told AFP. Japan also has worries over its hosting of the Olympic Games this summer, which had been expected to boost businesses in the world's third-largest economy. "Even if the situation in Japan calms down, the global outbreak could get worse, fuelling fears that the Olympics might be cancelled and cooling sentiment," Kagawa said. Japanese markets swung wildly on Monday as the central bank followed its counterparts around the world in an attempt to shore up sentiment amid mounting fears of a global recession. The Nikkei shot up about two percent in the minutes after the Bank of Japan announced emergency easing measures. The BoJ said it would double its annual capacity to purchase exchange-traded funds and Japan real estate investment funds, but left its key interest rate unchanged. mis/ric/fox