2024-08-06 12:44:47
As concerns about the US economy grow, global markets are gripped by fear and a shift in sentiment that has led to a wave of selling.
Japan’s Nikkei 225 index fell about 13% today, due to heavy selling sparked by fears that the US economy may be in worse shape than expected.
In its worst loss since 1987, by 09:15 Moscow time, the Nikkei index had fallen 12.40% to 31,458.42 points.
The largest single-day drop in the Nikkei was a 3,836-point drop, or 14.9%, on a day called “Black Monday” in October 1987.
The Japanese stock market began its decline last Friday, after the Bank of Japan raised its benchmark interest rate last week.
The Japanese stock exchange was not the only one to decline in Asia, as the decline extended to other markets.
During trading, the Korean “KOSPI” index fell by 8.9% to 2,459 points, the main index of the Taiwanese market fell by 8.41% to 19,819 points, and the “ASX 200” index of shares in Australia fell by 3.48% to 7,666 points.
Chinese stocks also fell, with the Shanghai Composite Index down 1.29% to 2,867.88 points, the CSI 300 down 0.9% to 3,351.62 points, and Hong Kong’s Hang Seng Index down 2.42% to 12,305.13 points.
As for oil prices, Brent crude futures were traded below $76 per barrel for the first time since January 9, amid fears of a decline in demand for black gold.
By 09:10 Moscow time, Brent futures fell 1.33% to $75.79 per barrel, while US West Texas Intermediate crude futures fell 1.47% to $72.44 per barrel.
The price decline came despite the dollar’s decline in the markets, as the US currency index, which measures its value against a basket of major currencies, fell by 0.31% to 102.8910 points.
Last updated: August 5, 2024 – 15:04
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2024-08-06 12:44:47