Japan stocks dive 4,451 points, more than Black Monday in 1987
I woke up this morning to a barrage of news alerts about Japan’s stock market taking a colossal plunge of 4,451 points, surpassing the infamous Black Monday crash of 1987. The Nikkei Stock Average recorded its worst-ever daily sell-off, closing down 12.4% at 31,458.42. Panic selling ensued, triggered by fears of a looming U.S. recession and the yen’s unexpected surge in strength. As a resident in Japan, it’s concerning to witness such a drastic decline, especially when compared to historical events like Black Monday.
The recent market turmoil has been exacerbated by Japan’s Bank of Japan raising interest rates to 0.25%, a move that caught many investors off guard.… Continue reading
John Q. Hosedrinker