April 22, 2021, 13:35

Nikkei Average Down 3.99% in Biggest Single-Day Decline Since April 2020

Nikkei Average Down 3.99% in Biggest Single-Day Decline Since April 2020

The losses were reportedly triggered by falling share prices in Hong Kong along with other Asian markets, while there is also concern about US Treasury yields surging past 1.6%, which could lead to volatile markets.

Japan’sbenchmark Nikkei stock average has fallen to its lowest point since 8 February, closing down 3.99 percent at 28,966.01 on Friday, which is the biggest single-day decline since April 2020. The Topix index fell by 3.15 percent to reach 1,865.59.

Earlier, 10-year US Treasury yields surged past 1.614% and hit a one-year high, while 5-year Treasury yield rose above 0.75%. This caused fears that the heavy losses could trigger distressed selling in other assets.

Stocks on Wall Street plunged Thursday with the technology index Nasdaq losing about 3 percent for its biggest one-day decline since September. The futures tracking the Nasdaq 100 shed 0.6% after that.

Source: sputniknews.com

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