Following the plunge in U.S. stocks, the Nikkei Average in the Tokyo market briefly fell below ¥58,000, posting a sharp decline from the previous day's close. Selling spread mainly among related stocks against the backdrop of declines in U.S. equities.
At the opening of trading on the morning of the 6th, the Nikkei Average continued its sharp decline, falling to more than ¥3,400 below the previous day's close. It dropped below the psychologically important ¥60,000 level and briefly fell to the ¥57,500 range. During trading hours, it fell below ¥58,000 for the first time in 7 months.
Selling of AI-related stocks spread in the U.S. market, with the Nasdaq Composite down more than 5%, the Dow Jones Industrial Average down more than $1,800 and the SOX Index down about 12%. This trend led to broader selling that pushed the Nikkei Average lower in the Tokyo market.
The decline in the Nikkei Average also sent the Tokyo Stock Price Index (TOPIX) sharply lower, with its decline at one point exceeding 5%. Among individual stocks, Recruit, FANUC and Nitto Denko fell, while Daikin and Sony Group rose, differentiating the market's performance.
Concerns about developments in the U.S. midterm elections and tighter data center regulations, along with uncertainty over AI investment, affected market sentiment. The downtrend in U.S. technology stocks is being analyzed as a factor behind the Nikkei Average's decline.