Nikkei Plunges 13% on US Recession Fears

Driven by anxieties about the US economy, global stock markets experienced significant declines. Japan`s Nikkei 225 index saw its most substantial drop since 1987, fueled by concerns over slowing US employment and the Bank of Japan`s recent interest rate hike. The downturn, impacting tech shares particularly hard, followed a period of intense market growth driven by enthusiasm for artificial intelligence. While some investors are buying into the dip, uncertainty persists regarding the potential for a recession.