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Stock impact report

Japanese stocks dive deeper into bear market as Trump stuns with travel ban [Reuters (UK)]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Japanese stocks dive deeper into bear market as Trump stuns with travel ban - Reuters 3 Min Read SYDNEY, March 12 (Reuters) - Japanese shares tumbled on Thursday, with major indexes at three-year lows after the United States rattled markets by imposing sweeping restrictions on travel from Europe and world health officials declared the coronavirus a pandemic. The benchmark Nikkei average slumped 4.4% to 18,559.63, its lowest closing level since April 2017. The fall was the second-biggest one-day decline in 15 months and dragged the index into bear market territory - 23% off its Jan. 17 peak. The Nikkei’s volatility index, a measure of investors’ volatility expectations based on option pricing, jumped more than 10% to 52.09, its highest since March 2011 when massive earthquakes and a tsunami struck Japan. The Nikkei slid further below the estimated average cost of the Bank of Japan’s stock purchases around 19,500, raising concerns about the central bank’s credibility and the sustainabil Show less Read more
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