Japan’s Nikkei 225 Index Plunges 7% as Worries Over US Economy Shake World Markets
Japan’s benchmark Nikkei 225 stock index plunged as much as 7.1% early Monday before recovering some lost ground, extending sell-offs that began last week.
At one point, the Nikkei shed more than 2,500 points. By the time of the Tokyo market’s midday break, the index was down about 5.5%, or about 1,900 points, at 33,945.43. . .
Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to tame inflation. Early Monday, the future for the S&P 500 was 1.4% lower and that for the Dow Jones Industrial Average was down 1.5%.
“To put it mildly, the spike in volatility-of-volatility is a spectacle that underlines just how jittery markets have become,” Stephen Innes of SPI Asset Management said in a commentary. “The real question now looms: Can the typical market reflex to sell volatility or buy the market dip prevail over the deep-seated anxiety brought on by this sudden and sharp recession scare?” (Read more from “Japan’s Nikkei 225 Index Plunges 7% as Worries Over US Economy Shake World Markets” HERE)
