A monitor shows the Nikkei 225 stock index in Tokyo, Monday, Aug. 5, 2024, indicating at one point, over 2,537 points of lowering. (Shohei Miyano/Kyodo News via AP)
Japanâs benchmark Nikkei 225 stock index plunged 12.4% on Monday, resuming sell-offs that are shaking world markets as investors fret over the state of the U.S. economy.
The Nikkei closed down 4,451.28 points at 31,458.42. The market's broader TOPIX index fell 12.8% as selling picked up in the afternoon.
Darkening the outlook for trading on Wall Street, early Monday the future for the S&P 500 was 2.4% lower and that for the Dow Jones Industrial Average was down 2.6%.
A report showing hiring by U.S. employers slowed last month by much more than expected has convulsed financial markets, vanquishing the euphoria that had taken the Nikkei to all-times highs of over 42,000 in recent weeks.
The Nikkei 225 dropped 5.8% on Friday, making this its worst two-day decline ever. Its worst single-day rout was a plunge of 3,836 points, or 14.9%, on Oct. 20, 1987, a day that was dubbed âBlack Monday.â This Monday was gloomy enough: at one point, the benchmark sank as much as 13.4%.
Share prices have fallen in Tokyo since the Bank of Japan raised its benchmark interest rate on Wednesday. The Nikkei is now down 3.8% from a year ago.
https://www.wsj.com/finance/stocks/...weak-u-s-jobs-data-yen-strengthening-3903689f
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