Tokyo Stock Exchange hits record 20-year drop

US, WASHINGTON (NEWS OBSERVATORY) — Trades at Tokyo’s largest stock exchange in Asia (TFE) are held on Friday with the largest drop in the index over the past 20 years. This is evidenced by trading data.

In the first 10 minutes, the key Nikkei index, reflecting fluctuations in the stock prices of 225 leading companies in the country, fell 6.73% to 17 310.29, breaking the psychologically important mark of 18 thousand points.

By 10:10 local time (04:10 Moscow time), the Nikkei index fell 9.15% to 16,861.42, breaking the psychologically important mark of a thousand points a second time in a day. Below the mark of 17 thousand points Nikkei dropped for the first time in three years and four months.

Over the past two weeks, Nikkei has already lost more than 6 thousand points against the backdrop of collapses in global financial markets caused by the threat of the spread of coronavirus.

The dollar, in turn, after a powerful drop observed in the last few days, slightly corrected its position against the Japanese yen. Since the opening of foreign exchange trading, the dollar appreciated by 1.27% to the level of 104.95-105.00 yen per dollar.

World markets on Thursday reacted sharply to the announcement of a pandemic in connection with the spread of coronavirus. So, the Mosbirzhi index fell by 8.28%, to 2286.4 points, and the RTS – by 11.03%, to 966.4 points.

A black day has also turned out for European trading floors, whose indices collapsed due to the decision of US President Donald Trump to suspend communication with Europe, as well as after the decision of the European Central Bank to maintain a zero base rate and measures to support the economy announced by the regulator.

In the US, key indices lost more than 9% on Thursday following a trading session on the New York Stock Exchange amid concerns about the spread of the new coronavirus. This is the largest collapse of the main quotes since October 1987.


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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.