News Formal

Japanese stocks crash in biggest one-day drop ever as global market rout intensifies

  • 📰 cnnbrk
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 55%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Japanese stocks suffered their biggest ever daily loss Monday as fears about a US economic slowdown sent shock waves through global markets.

The Nikkei 225 index of leading stocks in Tokyo lost a staggering 4,451 points, its biggest drop in history. The index closed more than 12% down, taking its losses since early July to 25% and entering bear market territory. “That was a crash. It smelled like 1987,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. He was referring to “Black Monday” in October 1987, when global markets plunged and the Nikkei lost 3,836 points.

Traders expect more rate hikes to come later this year as the central bank tries to contain inflation. The Nikkei closed down 5.8% Friday, as traders fretted about the impact of a stronger yen on Japanese companies. A rising yen would hurt exporters and companies with overseas earnings. A rapid appreciation in the Japanese currency has also forced many market participants to unwind the yen carry trade, a hugely popular trading strategy.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 393. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Jim Cramer's top 10 things to watch in the stock market MondayThe S&P 500 and Nasdaq were heading for a higher open Monday after a tough week.
La source: CNBC - 🏆 12. / 72 Lire la suite »

5 things to know before the stock market opens MondayHere are the most important news items that investors need to start their trading day.
La source: NBCLA - 🏆 319. / 59 Lire la suite »

Monday's analyst calls: Apple price target hike ahead of earnings, cloud stock gets an upgradeTwo tech companies were among the names being talked about by analysts on Monday.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Jim Cramer's top 10 things to watch in the stock market MondayWall Street looked to rebound Monday after the S&P 500's worst week since April.
La source: CNBC - 🏆 12. / 72 Lire la suite »

5 things to know before the stock market opens MondayHere are five key things investors need to know to start the trading day.
La source: NBCDFW - 🏆 288. / 63 Lire la suite »