Japan's Nikkei 225 Plummets Over 12%, Marking Worst Drop Since 1987 and Erasing Year's Gains in a Single Day

Benzinga

Japan's Nikkei 225 index fell over 12% on Monday, confirming a bear market and logging its worst single-day drop since the 1987 Black Monday crash. The Nikkei erased all its gains for 2024, moving into negative territory for the year. Heavyweight stocks like Mitsubishi and Mitsui plunged over 14%. South Korea's Kospi and Australia's ASX 200, along with most other Asian markets, experienced significant declines. The Kospi closed at a one-year low. US stocks had a weak session on Friday after a disappointing jobs report raised recession fears.

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00:00It's Benzinga, and here's what's on the block.

00:02Japan's Nikkei 225 index fell over 12% on Monday, confirming a bear market and logging its worst

00:09single-day drop since the 1987 Black Monday crash. The Nikkei erased all its gains for 2024,

00:15moving into negative territory for the year. Heavyweight stocks like Mitsubishi and Mitsui

00:20plunged over 14%. South Korea's Kospi and Australia's ASX200, along with most other

00:26Asian markets, experienced significant declines. The Kospi closed at a one-year low.

00:32U.S. stocks had a weak session on Friday after a disappointing jobs report raised recession fears.

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