The yen strengthened to the mid-¥148 range against the dollar, and the Nikkei Average plunged by more than ¥1,300 at one point on 1 August. Selling spread across export-related stocks, heightening investor anxiety.
The yen has reportedly strengthened rapidly, reaching the mid-¥148 range against the dollar.
As a result, the Nikkei Average fell by more than ¥1,300 at one point on 1 August, with the decline at one stage becoming the largest of the year.
The article quotes a man with 10 years of investment experience as saying, “I was surprised” and “It was tough.”
The yen's appreciation reportedly prompted sell orders for export-related stocks and others.