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08/08/24

11:43

Post #: 75123563
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Originally posted by lordaga: ↑

Japan is currently facing significant economic distress. On Monday, Japanese stocks recorded their largest daily loss since 1987, as concerns over a potential U.S. economic downturn reverberated across global markets. The Nikkei 225 index plummeted by an unprecedented 4,451 points, marking its most substantial point decline ever. In percentage terms, the index finished over 12% lower, its sharpest one-day drop since the infamous "Black Monday" in October 1987. This downturn has extended the Nikkei's losses to 25% since early July, categorizing it as a bear market.

The event has been likened to a crash, reminiscent of "Black Monday" when global markets collapsed, and the Nikkei shed 3,836 points.

The U.S. economy's anticipated slowdown has led to predictions that the Federal Reserve will cut interest rates. This comes as the Bank of Japan is increasing its rates to curb inflation, which in turn strengthens the yen against the U.S. dollar, diminishing the appeal of Japanese exports.

Concurrently, technology stocks are suffering due to a mix of inconsistent earnings and growing doubts among investors about the overhyped artificial intelligence sector and fears of a U.S. recession. The market is abuzz with talk of the contagion effect of this aggressive bear market, amplified by concerns of a severe downturn in the U.S. and a drastic collapse in Tokyo's markets, which are fueling each other.

Trading was intermittently suspended in Japan and South Korea as circuit breakers, meant to avert panic selling, were activated several times.

The relentless trading saw traders repurchasing shares they had previously sold short.

This volatility has spread to other Asian and European markets, with U.S. stock futures also taking a significant hit overnight. Nasdaq futures dropped by 4%, while Dow futures and S&P 500 futures decreased by 1.5% and 2.3%, respectively.

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Did you really just spam every stock you supposedly hold with this news article on market doom. First post on PLS. See ya.

PLS Price at posting: $2.97 Sentiment: None Disclosure: Held
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(20min delay)
Last $2.93		Change -0.160(5.18%)		Mkt cap ! $8.793B

Open	High	Low	Value	Volume
$3.05	$3.08	$2.91	$69.76M	23.57M

Buyers (Bids)

No.	Vol.	Price($)
22	294361	$2.92

Sellers (Offers)

Price($)	Vol.	No.
$2.94	3706	2

View Market Depth

No.	Vol.	Price($)
22	294361	2.920
25	517289	2.910
64	362259	2.900
11	84590	2.890
17	116307	2.880

Price($)	Vol.	No.
2.940	3706	2
2.950	1900	2
2.960	17700	3
2.970	44051	6
2.980	262211	8

Last trade - 16.10pm 19/11/2024 (20 minute delay)

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