Bearish
Nikkei 225 plunges 5% to 64,334.68 amid intensified tech sell-off
The Nikkei 225 index experienced a significant decline of 5%, closing at 64,334.68, driven by a broad sell-off in technology stocks. This downturn was influenced by higher-than-expected U.S. inflation data, which led to a global tech sell-off and heightened market volatility.
Key points
- The Nikkei 225 fell 5% to 64,334.68, impacted by significant declines in tech firms.
- U.S. inflation data showing a 3.7% annual rise in the consumer price index for September intensified global tech sell-off.
- Bond yields surged, reflecting inflation fears and an unstable debt market, with the 10-year U.S. Treasury yield briefly reaching 5.32%.
- Oil prices dipped amid geopolitical uncertainties and energy market disruptions due to the war in Iran, with Brent crude at $104.47 and U.S. crude at $94.17 per barrel.
Sources
AI-generated from public news sources. Not financial advice.
