Japanese stocks are sharply down due to concerns about the US economy, leading to a risk-off move and a strengthening yen. Interest rates have also decreased.
Updated on September 4, 2024, 15:43 JST (excerpt)
On the 4th of September, the Japanese stock market experienced a sharp decline. Following a significant drop in US stocks the previous day due to concerns about economic slowdown, the strengthening of the yen as investors sought risk aversion led to almost across-the-board declines.
Both the Nikkei Average and the TOPIX index ended the day with the largest decline since August 5, when global financial markets experienced significant volatility. The ISM Manufacturing Purchasing Managers' Index for August, released by the Institute for Supply Management (ISM) on the 3rd, showed a contraction in activity for the fifth consecutive month, falling below market expectations. Selling pressure in Japanese stocks intensified as a result of the sharp decline in US high-tech stocks, such as Nvidia.
On the 4th of September, the Japanese stock market experienced a sharp decline. Following a significant drop in US stocks the previous day due to concerns about economic slowdown, the strengthening of the yen as investors sought risk aversion led to almost across-the-board declines.
Both the Nikkei Average and the TOPIX index ended the day with the largest decline since August 5, when global financial markets experienced significant volatility. The ISM Manufacturing Purchasing Managers' Index for August, released by the Institute for Supply Management (ISM) on the 3rd, showed a contraction in activity for the fifth consecutive month, falling below market expectations. Selling pressure in Japanese stocks intensified as a result of the sharp decline in US high-tech stocks, such as Nvidia.
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