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Bank of Japan to inject nearly $ 4.8 billion into the market

US, WASHINGTON (NEWS OBSERVATORY) — The Japanese regulator intends to take emergency measures to stabilize the situation on the exchange.

The Bank of Japan issued an official announcement in which it announced that it would release cash worth up to 500 billion yen (almost $ 4.8 billion) on the security of Japanese government bonds.

In addition, on March 13, the Japanese central bank will hold an emergency meeting with the government to discuss the critical market situation.

The Tokyo Stock Exchange opened on March 13 with the worst collapse in 30 years.

Nikkei 225, reflecting the stock prices of the 225 largest companies, at the start collapsed by more than 9 percent, sinking below 17 thousand points for the first time in three years. At the moment, the drop exceeded 10%. The wider TOPIX index lost about 9%.

Earlier, another key record set American key indices. Dow Jones closed almost 10%. It was only worse on Black Monday 1987, when the drop was 22%.

The S&P 500 moved synchronously: by the close, it was down 9.5%. Similar dynamics was demonstrated by the high-tech Nasdaq.

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Article is written and prepared by our foreign editors from different countries around the world – material edited and published by News Observatory staff in our US newsroom.