5.5 C
London
Tuesday, December 3, 2024
HomeNewsAsiaTokyo Stock Market Tanks in Worst Day Since Pandemic

Tokyo Stock Market Tanks in Worst Day Since Pandemic

Date:

Related stories

Gazprom Maintains Stable Gas Deliveries to Europe, Sending 42.3 Million m³ on Monday

Brussels, October 14 (FinanceFlashNews.com) – Gazprom, Russia’s gas producer,...

Markets Anticipate Faster ECB Rate Cuts as Eurozone Inflation Falls

Frankfurt, October 14 (FinanceFlashNews.com) – Financial markets are predicting...

Tax Hike in France Will Hurt Investments, Warns Stellantis CEO

Paris, October 14 (FinanceFlashNews.com) – The French government's plan...

Finland’s Inflation Drops to Lowest Level in Nearly Four Years

Helsinki, October 14 (FinanceFlashNews.com) – Year-on-year inflation in Finland...

Moody’s Downgrades Belgium’s Credit Outlook to Negative

Brussels, October 13 (FinanceFlashNews.com) – Moody's Ratings downgraded Belgium’s...

Tokyo (FFN) – Japan’s stock market suffered a catastrophic plunge on Friday, with the Nikkei 225 index plummeting over 5%. The dramatic decline was triggered by a perfect storm of economic woes, including disappointing US manufacturing data and a surprise interest rate hike by the Bank of Japan.

Investors were sent reeling as fears of a global recession intensified. The sell-off was so severe that it marked the second worst day in the index’s history, eclipsed only by the initial shockwaves of the Covid-19 pandemic.

The Bank of Japan’s decision to raise interest rates, a surprising move given the country’s long-standing battle with deflation, sent the yen soaring. A stronger yen hurts Japanese exporters, as it makes their products more expensive overseas.

All eyes will now be on how the Japanese government and central bank respond to this market meltdown. With global economic uncertainty looming large, investors are bracing for more volatility in the weeks ahead.

Financeflashnewshttps://financeflashnews.com
This article was written by the editorial team of Financeflashnews. We strive to provide you with accurate and up-to-date information from the world of finance and investment. If you find any errors in the article, please let us know at corrections@financeflashnews.com. Your feedback is valuable to us and will help us improve the quality of our content.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories