Spooked in part by a looming recession under the policies of Joe Biden and Kamala Harris in the United States, the Japanese stock market panicked on Monday and suffered its worst single-day sell-off in history, losing even more points than it did on “Black Monday” in October 1987.
the primary cause of the crisis was mounting fear of an outright U.S. recession in the closing days of Joe Biden’s troubled presidency: The Nikkei plunge was so dizzying that “circuit breakers” were triggered several times on Monday, temporarily locking down trades until the market stabilized. The Taiwanese and South Korean stock markets dropped as well, losing 8.4 percent and 8.8 percent respectively. It was the largest single-day drop in the history of the Taiwanese benchmark exchange.international investors are worried that “the Federal Reserve has been too slow to respond to signs the US economy was weakening, and might be forced to play catch-up with a series of rapid interest rate cuts.
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