Nikkei Plunge Causes Jitters In Global Markets

Just three weeks ago, Japanese stocks were at a multi-year high — raising hopes for Prime Minister Shinzo Abe's efforts to revitalize the world's third-largest economy. Since then, the market has dropped more than 20 percent.

Copyright © 2013 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

LINDA WERTHEIMER, HOST:

NPR's business news begins with a big dive in Japan.

(SOUNDBITE OF MUSIC)

WERTHEIMER: Tokyo's Nikkei Index plunged more than six percent by the time Japan's markets closed today. That sent shockwaves through global stocks and currency markets.

Just three weeks ago, Japanese stocks were at a multi-year high - raising hopes for Prime Minister Shinzo Abe's efforts to revitalize the world's third-largest economy. Since then the market has dropped over 20 percent.

Analysts say this is due in part to investor fears that both Japan and the U.S. will slow stimulus spending.

Copyright © 2013 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.