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Tokyo stocks plunge into Christmas defeat | Money



  Passersby is reflected in a graph showing the average Nikkei stock movement, outside a brokerage in Tokyo August 12, 2013. - Reuters pic
Passersby is reflected in a graph showing the average movement of the Nikkei stock, outside a brokerage in Tokyo August 12, 2013. – Reuters pic

TOKYO, Dec. 25 ̵

1; Tokyo stocks have fallen today as some Asian markets are open to Christmas suffering a holiday rout with fears about the United States economy and a government shutdown in Washington.

Tokyo markets, closed yesterday for a national holiday, have fallen today, ending the Nikkei five percent – more than 1,000 points.

This is the worst since April 2017 and followed a brutal shortened session on Wall Street which saw US stocks a fourth straight session.

In Asia, many markets are closed for Christmas, including in Australia, Hong Kong and South Korea. US and European markets are also closed for holiday.

However, interruption has affected bourses that remain open, benchmark of the Shanghai Composite Index of China dropping more than two percent in the morning session, down 0.9 percent.

The markets have been roiled by ongoing uncertainty in the United States, that Treasury Secretary Stephen Mnuchin has been widely committed to calling the six largest US banks and then reporting on Twitter that six CEOs had "enough liquids"

Investors were also unavailable by weekend reports that President Donald Trump asked about the possibility of firing on Federal Reserve Chairman Jerome Powell, accounts of Mnuchin being denied by Trump.

Last week, rates, subduing Trump ignoring traditional Fed independence respect, called it "corrupt", "out of control" and a wider economic threat than China.

The Dow Jones Industrial Average fell nearly three percent on Monday, with a broad S & P 500 down 2.7 percent and the tech-rich Nasdaq Composite Index more than two percent.

The collapse resulted in the S & P 500 on the edge of a "bear market," considered a drop of 20 percent from its peak.

CNBC reported that losses were the worst for Wall Street on Christmas Eve, a holiday-shortened

Stephen Innes, head of APAC trading at OANDA, said Trump who called on the Fed and Mnuchin in banks has "markets running for cover."

Investors "have no confidence in the administration. The markets are driven by understanding and it's not bad," he told AFP.

A strong yen increases the chaos for markets in Japan, he added.

"I can not tell you where the bottom will be like other dangers," said Makoto Sengoku, a market analyst at Tokai Tokyo Research Institute.

"There are no signs of selling running its course or big buyers emerging," he said.

Key figures around 0700 GMT

Tokyo – Nikkei DOWN 5.0 percent at 19,155.74 (close)

Hong Kong – Locked

Euro / dollar: UP to US $ 1.1414 from US $ 1.1410

Dollar / yen: DOWN and 110.10 from 110.18

Pound / dollar: FLAT to US $ 1.2704

Oil – Brent Crude: CLOSED

Oil – West Texas Intermediate: CLOSED

New York – Dow: DOWN 2.9 percent at 21,792.20 [19659005] London – FTSE 100: DOWN 0.5 percent at 6,685.99 (close)
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