The Nikkei Average plunged in the Tokyo stock market on 6 November, falling more than ¥4,000 during the 9 a.m. hour to ¥56,745. The decline spread to Japan amid caution over AI-related shares and a sharp fall in semiconductor stocks in the US market.
On 6 November, the Nikkei Average plunged in the Tokyo stock market, falling more than ¥4,000 from the previous day's close to ¥56,745 at 9:28 a.m. The morning close was ¥57,858, and the index was reported to have fallen below ¥60,000 for the first time in about six months.
The immediate trigger was cited as a sharp decline in the US market, where the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all fell significantly. The SOX index, particularly focused on semiconductor-related stocks, fell more than 12%, with declines in Nvidia and AMD standing out.
In Japan, stocks closely linked to AI investment, including Advantest, Tokyo Electron and SoftBank Group, were sold. Views spread that AI-related assets were being reassessed globally. The market decline was also reported to have spread to Asian markets.