Ladies and gentlemen, fasten your seatbelts as the Tokyo stock market faces a dramatic plunge The Nikkei stock index took a nosedive this Tuesday morning, briefly sinking over 1,000 points, dropping below the 36,000 mark for the first time since September!
As of 10:30 a.m., the 225-issue Nikkei Stock Average was down 900.31 points, or 2.43%, trading at 36,127.96—after hitting an early low of 35,987.13. The broader Topix index also took a heavy hit, losing 68.88 points, or 2.55%, standing at 2,631.88.
The market turmoil follows a wave of selling pressure, mirroring Wall Street’s overnight slump. Investors are gripped with fears of a U.S. recession, especially after former U.S. President Donald Trump, in a TV interview aired Sunday, spoke of a “period of transition” when asked about a possible economic downturn.
Tokyo stocks opened sharply lower, with the Nikkei sinking over 2% within the first 15 minutes of trading. The index plummeted 769.39 points, or 2.08%, to 36,258.88, while the Topix index declined 52.47 points, or 1.94%, to 2,648.29.
On the Prime Market, the hardest-hit sectors included nonferrous metals, securities houses, and service industries.
Meanwhile, in the currency market, at 9 a.m., the U.S. dollar traded at 147.07-08 yen, slightly lower than 147.23-33 yen in New York and 147.58-60 yen in Tokyo on Monday evening. The euro stood at $1.0838-0842 and 159.39-46 yen, fluctuating from its earlier values in New York and Tokyo.
Stay tuned for further updates as market tensions continue to unfold This is Netrapal, bringing you the latest from the financial world!