Hong Kong/London
CNN
—
Japanese stocks on Monday suffered their biggest daily loss since 1987 as fears about a US economic slowdown sent shock waves through global markets.
The Nikkei 225 index of leading stocks in Tokyo lost a staggering 4,451 points, its biggest point drop in history. On the more common, percentage measure, the index closed more than 12% down — according to Reuters, its largest one-day fall since October 1987. The drop took Nikkei’s losses since early July to 25%, pushing it into bear market territory.
“That was a crash. It smelled like 1987,” Neil Newman, head of strategy at Astris Advisory…
