Asian markets were sent into a tailspin on Friday as Japanese stocks plummeted, with the Nikkei index experiencing its biggest single-day drop since Black Monday in 1987. The sharp selloff was fueled by last week’s market slump, which sparked widespread panic among investors.
The Nikkei index tumbled over 900 points, a 3.92% decline, reaching its lowest point since August. The widespread sell-off affected other Asian markets as well, with the Hang Seng Index in Hong Kong and the Shanghai Composite Index both dropping significantly.
The market turbulence was exacerbated by growing concerns over the global economic impact of the ongoing Covid-19 pandemic and geopolitical tensions. Investors were also spooked by a sharp decline in oil prices, which further heightened fears of an economic slowdown.
The dramatic plunge in Japanese stocks highlighted the fragility of global markets and served as a stark reminder of the unpredictability of the current economic climate. Experts are warning that the volatility could persist in the coming weeks, as the world grapples with the economic fallout of the pandemic.
Investors are advised to exercise caution and closely monitor market developments in the coming days, as the situation remains fluid and uncertain. The collapse in Asian stocks serves as a sobering reminder of the importance of being prepared for sudden market fluctuations and taking a cautious approach to investment decisions.
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Video “Asian stocks collapse, Nikkei tumbles past Black Monday milestone • FRANCE 24 English” was uploaded on 08/05/2024 to Youtube Channel FRANCE 24 English