Tokyo stocks plunge below ¥60,000 for first time in 5.5 months as US stocks fall on AI investment concerns; decline temporarily exceeds ¥4,000

The story

The Nikkei plunged in the Tokyo stock market on the morning of the 6th, falling below the ¥60,000 milestone and recording a drop of more than ¥4,000 at one point.

As of 9:15 a.m., the Nikkei was at ¥57,881.13, down ¥3,196.77 from the previous day, while TOPIX was at 3,755.20, down 185.19 points.

Declines led by technology stocks in the US market weighed on Tokyo stocks, with the impact of lower US share prices spreading to the Japanese market.

Reports that the Democratic Party had won a landslide in the US midterm elections spread concerns that construction of AI-focused data centers could stagnate.

At a glance

Transaction dateMarket prices as of 9:15 a.m. The Nikkei was down ¥3,196.77 from the previous day at ¥57,881.13, while TOPIX was at 3,755.20.

DeclineThe Nikkei recorded an intraday drop of more than ¥4,000.

LevelThe Nikkei fell below ¥60,000.

CauseConcerns about a slowdown in AI-related investment and the decline in US stocks triggered selling.

Overseas factorsThe Democratic Party won a landslide in the US midterm elections, spreading concerns that construction of AI-focused data centers could stagnate.

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