Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Yamane_Keto on August 05, 2024, 05:02:00 PM
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Japan’s stock markets entered a bear market on Monday, mirroring a broader sell-off across Asia-Pacific markets that began last week. Both the Nikkei 225 and TOPIX indexes plummeted over 12%, marking a significant downturn.
According to a report by CNBC, by Monday’s close, the benchmark indexes had declined more than 20% from their record highs on 11 July. The Nikkei 225 experienced a staggering 12.4% drop, closing at 31,458.42. This represents the worst day for the index since the notorious “Black Monday” crash of 1987. In absolute terms, the Nikkei lost 4,451.28 points, the largest point drop in its history, erasing all its gains for the year and pushing it into negative territory year to date.
(https://media.cryptoglobe.com/2024/08/Screenshot-2024-08-05-at-09.46.59.png)
https://www.cryptoglobe.com/latest/2024/08/japans-stock-market-crash-rivals-1987-sparks-global-panic-professional-trader-explains-why-it-is-happening/
https://x.com/adamkhootrader/status/1820314551956742240
The Bank of Japan's interest rate hike appears to have sent the JPY/USD sharply higher, deepening the decline in US stocks. This will put more pressure on stocks, potentially leading to further declines, but it could be a good opportunity for those who want to buy now.
(https://talkimg.com/images/2024/08/05/53TPj.png)
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We seemed to have recovered a lot. Let's see the next ten days for a new trend