Last Friday, Japanese stocks took a hard hit, wrapping up a tumultuous week in the financial markets with a nearly 6% selloff. This led to a day of recalibration and a growing sense of pessimism among investors.
Shoki Omori, chief desk strategist at Mizuho Securities, commented on the situation, stating that while the government aimed for a stronger yen, they did not anticipate such a significant drop in equities.
In less than a month, the 225-issue Nikkei average went from reaching all-time highs to experiencing a shocking downturn. It is now nearly 15% lower than its previous record high, marking a significant decline in a short period of time.