2024-07-12 17:59:09
A crash marked today’s trading on the Tokyo stock exchange, after consecutive record gains in recent days, Kyodo reported. This came amid a stronger yen against the dollar and a drop in US tech stocks.
The benchmark Nikkei 225 index fell 1,033.34 points, or 2.45 percent, to 41,190.68, marking its steepest decline since Feb. 26, 2021.
The broader Topix index ended 34.61 points, or 1.18 percent, lower at 2,894.56. The dollar traded at 159.31-32 yen, compared with 158.83-93 yen in New York and 161.62-64 yen in Tokyo yesterday.
The euro was trading at $1.0864-0868 and 173.07-15 yen versus $1.0862-0872 and 172.57-67 yen in New York and $1.0839-0840 and 175.19-23 yen in Tokyo. .
Late last night, the tech Nasdaq was down sharply as shares of Nvidia, Apple and Tesla fell as investors turned to smaller companies after inflation in the US fell more than expected, which increased bets that the Federal Reserve Board will cut interest rates in September, Reuters reported, quoted by BTA.
The Dow Jones industrial average fell 0.08 percent to 39,753.75.
The broader Standard & Poor’s 500 lost 0.88 percent to end the session at 5,584.54.
The technology Nasdaq fell 1.95 percent to 18,283.41 points.