TOKYO (Kyodo) -- Tokyo stocks plunged Tuesday, with a wide range of shares drawing selling amid increasing uncertainty over the outcome of Japan's general election and the U.S. presidential race.

The 225-issue Nikkei Stock Average ended down 542.64 points, or 1.39 percent, from Monday at 38,411.96. The broader Topix index finished 28.44 points, or 1.06 percent, lower at 2,651.47.

On the top-tier Prime Market, decliners were led by machinery, construction and real estate shares.

The U.S. dollar briefly hit an around three-month high of 151.10 yen in Tokyo, following a rise in long-term U.S. Treasury yields on the back of recent firm economic data.

At 5 p.m., the dollar fetched 150.99-151.02 yen compared with 150.77-87 yen in New York and 149.83-85 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.0836-0837 and 163.63-67 yen against $1.0809-0819 and 163.03-13 yen in New York, and $1.0848-0849 and 162.54-58 yen in Tokyo late Monday afternoon.

The yield on the benchmark 10-year Japanese government bond rose 0.020 percentage point from Monday's close to 0.975 percent, tracking the rise in long-term U.S. Treasury yields.

Stocks faced heavy selling throughout the day, with the Nikkei briefly plunging more than 700 points, as recent media polls show that Japan's ruling parties could lose their majority in the powerful House of Representatives after the Sunday's election.

Uncertainty over the U.S. presidential election in early November has also increased due to the close contest between Vice President Kamala Harris and former President Donald Trump.

Tomoichiro Kubota, senior market analyst at Matsui Securities Co., said, "Uncertainty around politics in both Japan and the United States has led to caution among investors."

Meanwhile, growing speculation that Trump could win the presidential election have pushed up U.S. long-term interest rates due to a possible increase in fiscal deficits, causing U.S. stock futures to fall and further denting sentiment in the Japanese market, brokers said.