Japan Stocks Enter Bear Market Amid Global Sell-Off
Historic One-Day Loss for Nikkei
TOKYO (AP) - Japanese stocks plunged into a bear market on Monday, as the Nikkei Stock Average suffered its largest one-day points loss ever. The benchmark index plunged over 5%, heading for a two-day drop of nearly 8% in the wake of Bank of Japan's decision to maintain its ultra-loose monetary policy.
Global Sell-Off Continues
The drops in Japan were part of a broader sell-off that began last week, with worries about the US economy and rising interest rates weighing on global markets. Japanese stocks had been relatively resilient in the face of global uncertainty, but the latest sell-off has pushed the Nikkei 225 index down nearly 6% from its six-month high.
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