Tokyo stock market closing = substantial continuous decline, concerns about a sharp drop in US stocks and a strong yen, the third largest decline this year.

September 4, 2024, 4:02 pm GMT+9 (excerpt)

In the Tokyo stock market, the Nikkei average fell significantly to 37,047.61 yen, down 1,638.70 yen from the previous trading day. The selling pressure was dominant as semiconductor-related stocks plummeted in the US market after the long holiday and the major three indexes sharply declined. Concerns about the US economy also contributed to widespread selling, making it the third largest decline this year. In the past, it was the fifth largest (correction).
After opening at a 646 yen drop, the Nikkei average continued to decline and fell below the psychological milestone of 37,000 yen in the afternoon session, reaching a low of 36,879.33 yen, down 1,806.98 yen. Following the sluggish rebound in the morning session, selling pressure that followed profit-taking expanded in the afternoon session, leading to a widening decline.