Against a backdrop of declines in US semiconductor stocks, the December contract for CME Nikkei futures plunged. It broke below the ¥60,000 psychological threshold and temporarily fell to the ¥59,300 range. The decline widened into the late hours of the night in Japan, following the morning's market moves in the United States.
In trading on the morning of the 5th, US Eastern Time, the December contract for Nikkei futures on the Chicago Mercantile Exchange plunged. It temporarily fell below the ¥60,000 psychological threshold.
In the US stock market, selling intensified in tech stocks, led by semiconductor stocks, and spilled over into Nikkei futures.
Nikkei futures temporarily fell to the ¥59,300 range.
Some analysts attributed the instability in market sentiment to Democrats regaining the majority in both chambers of Congress in the US midterm elections.