Tokyo stocks plunge at open on U.S. semiconductor selloff, volatile trading expected
Tokyo stocks opened sharply lower on Monday, with the benchmark Nikkei Stock Average shedding 640 yen from the previous session to 65,947 yen, marking a steep decline for the second consecutive session.
On Friday, Wall Street tumbled as major U.S. equity indices, including the Dow Jones Industrial Average, posted sharp losses. The tech-heavy Nasdaq Composite Index plunged more than 1,100 points, or over 4%. Chip stocks bore the brunt of the sell-off, with the Philadelphia Semiconductor Index (SOX Index) cratering more than 10%. In response, risk-off sentiment has accelerated in the Tokyo market. Given the heavy weighting of AI and semiconductor blue chips in the Nikkei Stock Average, downward pressure is poised to intensify. Meanwhile, a weaker yen and movements in long-term interest rates are also drawing market scrutiny.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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