Nikkei Collapses 7.3%

May 23, 2013 by Douglas A. McIntyre

147282532
Source: Thinkstock
The Nikkei dropped a remarkable 7.3% after weeks of record-setting days. Two days ago the Bank of Japan said the Japanese economy was “picking up.” Now, suddenly there will be grave doubts about the plans of BOJ Governor Haruhiko Kuroda and Prime Minister Shinzo Abe, whose policies have been considered the start of a revival after more than a decade of trouble.

According to MarketWatch:

Japanese shares suffered their worst losses in more than two years on Thursday after data showing an unexpected contraction in Chinese manufacturing activity added to worries the Federal Reserve could downscale its bond purchases.

And:

The slump came after a surge in Japanese government bond yields, which forced the Bank of Japan to offer 2 trillion yen ($19 billion) in funds to calm investor nerves. The central bank announced the fund-supplying operation after 10-year JGB yields soared to their highest level in more than a year, citing “the unreasonable increase” in volatility.

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Posted in Investing | Comments Off on Nikkei Collapses 7.3%