Japanese Nikkei Index Plummets by 4,000 Points, Marking the Largest Decline Ever
CryptoNewsTerminal Staff04 Aug, 2024
Japanese Nikkei Index Plummets by 4,000 Points, Marking the Largest Decline Ever
The Japanese Nikkei index witnessed a dramatic fall of over 4,000 points during trading hours, marking the largest decline in its history, according to Market Monitoring data from cryptonewsterminal. The Nikkei index, which reflects the performance of 225 leading Japanese companies, reached an intraday low of 31,991.00, plummeting by 11.57% or 4,156.50 points from its opening price. This unprecedented loss surpassed the previous record drop of 3,911.03 points set in October 1987. The index's steep decline is primarily attributed to concerns over the strengthening yen, which negatively impacts Japanese exporters, as well as broader global economic uncertainties. Market analysts are closely monitoring the situation and expect the Nikkei index to remain volatile in the short term. ---
