05.08.2024, Tokio.
The Nikkei stock index closed Monday with its largest one-day drop in history, falling more than 4,400 points and losing more than 12 percent for the session, stock data showed on August 5.
Stocks extended their fall from Friday’s collapse as a massive sell-off gripped the market after weaker-than-expected US jobs data for July added to a recent string of disappointing economic data, raising fears of a recession in the world’s largest economy.
Exchange traders also shrugged off technology stocks amid increased risk aversion to risky equities after the tech-focused Nasdaq index and a key semiconductor index fell sharply on Friday.
Taiwan’s Taiex exchange collapsed by 8.4% and Korea’s Kospi index by 8%. Trading on the Kospi and TOPIX exchanges was suspended. Amid the fall in Asian stock indices, the Dow Jones Industrial Average (-1.5%) and Nasdaq (-2.4%) fell. The value of bitcoin fell by 18%.
Source: Rossa Primavera News Agency
