The Japanese stock market continued its sharp decline. The Nikkei 225, the country's leading stock index, fell 12.4 percent to 31,458 on Monday. /nginx/o/2024/08/05/16269845t1h1ee7.jpg)
Japanese Stock Exchange. Photo: ZUMAPRESS.com / Scanpix
The Japanese stock market continued its sharp decline. The Nikkei 225, the country's leading stock index, fell 12.4 percent to 31,458 on Monday.
Translation: Pavel Sobolev
China's stock market fell 1.2 percent, Hong Kong's by 2.2 percent, Korea's by 11.3 percent, India's by 3 percent, Taiwan's by 8.4 percent and Australia's by 3.7 percent.
On Friday, the US S&P 500 had its worst day since October 2022. The US stock market barometer fell 1.8 percent to 16,776. The Dow industrial average fell 1.5 percent, the Nasdaq fell 2.4 percent and the small-cap Russell 2000 fell 3.5 percent. But that's not the end of the story, as shares continue to fall today. Futures for the Nasdaq 100 are already down 3.7 percent, the Russell 2000 down 3.1 percent and the S&P 500 down 1.9 percent.
In Europe, shares also fell on Friday by 1.3-2.7 percent, depending on leading market indices.
The global sell-off in stocks is dampening the mood of investors who would like to buy shares, but their hands are shaking. Stocks have been hit hard by the performance of technology companies. Concerns about the American economy are trending again.
The S&P 500 is down about six percent from its peak in July, but the tech-rich Nasdaq is down more than ten percent from its all-time high in early 2022, or in stock market lingo, "reached a correction."
Investors were faced with difficult choices. In recent years, buying dips has yielded good results because it has been a bull market. But the companies’ results do not give reason for enthusiasm, the shares are expensive and if you look at what the “smart money” is doing, maybe it’s worth selling higher? Warren Buffett's Berkshire Hathaway has been beating the market with Bank of America stock very consistently every day for weeks. Also, the company sold about half of Apple's colossal position. Berkshire is on top of a record amount of free cash.
The Tallinn Stock Exchange is also in a fever
A few minutes before noon, the Tallinn Stock Exchange indexfell by 3.05 percent to 1,684.91 points. Turnover reaches 1.3 million euros.
Infortar shares unexpectedly fell, falling 9.8 percent to €35.80. The share turnover is only 33,121 euros. The company released quarterly results that showed a decline compared to last year. In addition, the collapse of the stock market in Asia has some influence on the actions of investors.
Tallink shares fell 3.5 percent to 0.587 euros.
In the alternative market, shares of gGrab2Go fell 12.4 percent and shares of Punktid Technologies fell 10.7 percent.
