Unemployment in the United States caused the Tokyo Stock Exchange index to fall by nearly 10 percent
Tokyo's stock index fell to a record 9 percent, with some cases dropping as much as 13 percent, amid reports of a rise in the U.S. unemployment rate. This is the biggest drop since Black Monday in 1987.
Tokyo's stock index fell nearly 10 percent amid data on rising unemployment in the United States. This is the biggest drop since Black Monday in 1987. This was reported by TASS based on the stock exchange data.
Japan's Nikkei stock index, which includes shares of 225 of the country's largest companies (including Honda, Mazda, Mitsubishi, Nissan, Panasonic Nintendo), lost more than 3,000 points in morning trading on August 5. The index fell to a record 9 percent , in some cases the decline was 13 percent .
Other main stock indices in the Asia-Pacific region also showed negative dynamics. This comes amid concerns that the US labor market report could tip into a recession . According to analysts, the unemployment rate in the United States has increased by 4.3 percent.
"The market is growing worried about the future of the US economy. Investor sentiment has been dampened by statistics showing that the [US] economy is slowing, including worse-than-expected employment statistics," Nikkei, a leading business publication, said.
According to Goldman Sachs analysts, the probability of a recession in the US next year is 25 percent. And JPMorgan predicts a 50 percent slowdown in the US economy.
Cryptocurrencies have also started to fall significantly amid the collapse of the markets. Bitcoin price has already fallen by more than 12 percent to $ 53,000 .
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