06-08-2024, 09:11 AM
The Dow Jones Industrial Average fell 1,033.99 points, or 2.6%, to close at 38,703.27 points. The Nasdaq fell 576.08 points, or 3.43%, to close at 16,200.08 points; the S&P 500 fell 160.23 points, or 3%, to close at 5,186.33 points. Both the blue-chip Dow Jones Industrial Average and the S&P 500 Index hit their largest single-day declines since September 2022.
Japanese stocks suffered their worst losses since Black Monday on Wall Street in 1987, fueling concerns about global market turmoil.
The Bank of Japan raised interest rates last week, narrowing the interest rate differential between Japan and the United States, causing the yen's "carry trade" to unwind and exacerbating the decline in global financial markets; it also pushed up the yen's exchange rate against the U.S. dollar, ending traders' The practice of borrowing cheap currency to purchase other global assets.
https://udn.com/news/story/6811/8142342?...main_index
Japanese stocks suffered their worst losses since Black Monday on Wall Street in 1987, fueling concerns about global market turmoil.
The Bank of Japan raised interest rates last week, narrowing the interest rate differential between Japan and the United States, causing the yen's "carry trade" to unwind and exacerbating the decline in global financial markets; it also pushed up the yen's exchange rate against the U.S. dollar, ending traders' The practice of borrowing cheap currency to purchase other global assets.
https://udn.com/news/story/6811/8142342?...main_index