Historic Drop! Nikkei 225 Falls 12.4% Following Bank of Japan Rate Hike. π±π₯Ήπ΄π
Japan’s Nikkei 225 index plunged 12.4% on Monday, dropping 4,451.28 points to 31,458.42. This marks the index’s worst two-day decline, with an 18.2% drop over the last two trading sessions. The sharp fall follows the Bank of Japan’s interest rate hike and growing concerns about the U.S. economy. The Nikkei’s decline is the second largest percentage loss in a single day, surpassing only the October 1987 βBlack Mondayβ drop. Major companies like Toyota and Honda saw significant losses, and increased volatility was exacerbated by unwinding yen carry trades. π―π΅π₯²
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