Fears of a U.S. recession have prompted investors to sell Japanese stocks, sending the index down 12.40 percent. At the open, Milan was down 3.8 percent; Frankfurt, 3 percent; Madrid, 2.8 percent; Paris, 2.7 percent; and London, 2.4 percent.
“Black Monday” on stock markets around the worldThis August 5th threatens to be a fatal day for the markets, after the to collapse from the Stock Exchange Japan (Nikkei), which lost 12.40%. This is the second-largest percentage drop in history, surpassed only by the Black Monday (“Black Monday”) on October 20, 1987, when the price fell by 14.90%, and also recorded the largest points drop in history, of over 3836.48, also on that day.
Infected by the collapse, the main European bags They opened the session in the red. The Milan stock exchange is down 3.8%; the German Dax 40, 3%; the Spanish Capricorn, 2.8%; the Paris stock exchange, 2.7%, and London, 2.4%.
The nervousness broke out last week after the negative employment and industrial activity figures In the U.SAfter the declines recorded on Wall Street on Friday, the sell-off spread to Asia and Europe on Monday.
Tokyo’s stock market opened sharply lower, following the same trend as last week, when it closed down nearly 6% on Friday and after several days of losses built up following the latest Bank of Japan (BoJ) meeting, which decided to increase the rates and caused a sharp appreciation of the yen against the euro and the dollar, a trend that is hurting major Japanese exporters who are repatriating their profits abroad.
“Foreign investors are selling Japanese stocks because they fear the United States is heading for a recession,” Naka Matsuzawa, an analyst at brokerage Nomura Securities, said in statements reported by the economic newspaper. Nikkei.
“Stock market values are determined by various factors, such as economic conditions and business activities, so we avoid commenting on daily movements,” Japanese government spokesman Yoshimasa Hayashi said at a news conference today. However, Hayashi said the Japanese executive branch will monitor these movements and “make an effort to manage Japan’s economy and finances.”
The biggest declines have been caused by the technology and investment conglomerate Softbank (18.65%) and Mitsubishi UFJ, one of Japan’s leading banks, has plummeted 17.84%. The video game giant Nintendo There is still 16.53% left and the shares of nissan They are down 14.48%. Also notable are the falls Toyota Motor (13.65%) or Sony (7.61%).
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
