The stocks of Japan tumbles on Tuesday as well as the other markets of Asia faced a decline following by heavy losses triggered due to the attack of President Trump on the central bank of United States. Nikkei225 fell by a 5 percent wide margin, hitting the lowest point from May 2017 and closing at 19155.74. This index is not just down over 21 percent from the highs reached during early October, defining the bear market. The losses were spread widely, along with all the 33 TSE sub sectors posting losses.
The Fuji Electric dropped over 7percent, SoftBank was off by 7.6 percent, Fast Retailing fell by 4 percent while Toyota sank over by 5 percent. The Composite index of Shanghai got losses which closed it to 0.9 percent, along with smaller capital Shenzhen Composite faring same. The benchmark index of Taiwan has declined by more than 1percent. The markets in South Korea, Hong Kong and Australia were closed due to Christmas. This sell off was triggered completely due to the developments of US markets, than by the negative factors different to domestic markets, chief strategist of Monex Securities, Tokyo, Takashi Hiroki, told CNBC.
The index of Wall Street fell by more than 2percent on this Monday after the tweet of Donald Trump saying that Federal Reserve is the only problem for US economy. The market of US has been disturbed due to concerns of a declining global economy, trade wars with China as well as rise in interest rates by Fed. Fed is considered to be the powerful golfer that fails to score, as he cannot touch and he cannot putt! S&P500 index slide by 2.7 percent to 2351.10. Also, benchmark index fell by 19.8 percent from the peak on 20th of September, which is the run of about 10 years.