The Nikkei Stock Average fell more than ¥1,600 at one point, marking the first time in about five months that it had reached the ¥50,000 range. Selling intensified after a sharp fall in U.S. markets.
The Nikkei Stock Average fell more than ¥1,600 at one point during trading, reaching the ¥50,000 range. It was the first time in about five months that it had done so.
The backdrop was a sharp fall in major U.S. indexes, including the NY Dow, the previous day, with selling spreading mainly across technology stocks. Some observers also pointed to growing concerns about tighter regulations on data center construction following the Democratic Party victory.
The Japanese market followed this trend and remained on a downward path, with the index also falling below ¥60,000 during the day for the first time since 20 May. Market participants described the decline as record-breaking.