look news india
Stock Market Closing: Due to the slowdown in the US and China, increasing geopolitical crisis and the increase in interest rates by the Central Bank of Japan, there is news of a big decline in almost all the stock markets globally including India today. This is the first time in 57 years that such a big decline has been seen in the Asian stock market. Sensex closed at 2222.55 points and Nifty at 662.10 points. Investors have suffered a loss of Rs. 15.38 lakh crore.
Despite India's strong economic condition and reports of global slowdown, the rupee fell to an all-time low against the dollar and the Indian stock market returned to bearish sentiment. Apart from this, in the Asian market, Japan's Nikkei and KOSPI registered double-digit decline.
Due to the US stock markets, Japan's Nikkei has fallen by 13 percent and Taiwan's index has fallen by 8.35 percent. This is the biggest one-day fall since 1967.
The impact of these steps by Japan
The central bank of Japan has raised interest rates with the aim of improving the economic situation. As a result, the Nikkei fell by more than 12 percent for the first time in 37 years. This is the first time since 1987 that such a big decline has been seen in the Nikkei. The Bank of Japan has raised interest rates by 25 basis points after almost 14 years. Therefore, the Japanese currency Yen rose against the dollar.
US markets down
The condition of America, the world's largest and strongest economy, is even worse. Dow Jones is down by 400 points, Nasdaq is down by 700 points. The recession is certain to deepen due to the weak American manufacturing PMI data and rising unemployment.
South Korean market faces huge decline after 23 years
Most of the shares in the South Korean stock market have hit a lower circuit. For the first time since 2001, such a huge decline has been registered in South Korea's KOSPI market. The slowdown has intensified due to the decrease in demand in China. Due to the impact of low demand for crude oil, the stock markets of Italy, Hong Kong and France fell by 5 percent. KOSPI fell by 8.77 percent.