Asian stock horror story! Japanese stocks plunged more than 800 points during the session, Taiwan stocks opened lower and plummeted, and Korean stocks also turned negative.
Quick Look
- Wall Street stocks closed lower on Wednesday, with the Dow Jones, Nasdaq, S&P 500 and Philadelphia Semiconductor Index all falling, driving Taiwan, Japanese and Korean stocks to weaken during the session.
- Taiwan stocks opened lower and fell more than 600 points, Japanese stocks once plunged more than 800 points, and Korean stocks turned from red to black.
AI-generated summary
Why It Matters
Rising U.S. Treasury yields have stoked concerns about inflation and rising debt.
Wall Street stocks closed lower on Wednesday (7th), dragging down Asian stocks. (Ouxin file photo)
[Financial Channel/Comprehensive Report] Wall Street stocks closed lower on Wednesday (7th), which also dragged down Asian stocks. Taiwan stocks opened lower today, opening at 49783.06 points, a decrease of 23.31 points. Japanese stocks also opened at 69840.64 points, a decrease of 195.07 points, falling below the 70,000 point mark. At one time, they fell more than 800 points during the session, while Korean stocks turned red and black.
The rise in U.S. Treasury bond yields triggered market concerns about inflation and increasing debt. The Dow Jones Index fell 341.41 points, or 0.66%, to close at 51,179.87 points; the Nasdaq Index fell 61.20 points, or 0.22%, to close at 27,538.69 points; the S&P 500 The index fell 17.16 points or 0.22% to close at 7801.77 points; the Philadelphia Semiconductor Index fell 151.67 points or 1.15% to close at 13066.15 points.
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As for Japanese stocks, today's Nikkei Index opened at 69840.64 points, a drop of 195.07 points, and then the decline expanded. It once fell 840.24 points to 69195.47 points. At around 9:46 a.m. Taipei time, the index fell 506.50 points, or 0.72%, to 69529.21 points.
As for the Korean stock market, the South Korea Composite Index opened at 6808.68 points today, an increase of 4.78 points from the previous trading day. At around 9:48 a.m. Taipei time, it fell 0.21% or 14.46 points to 6789.44 points.
Taiwan stocks opened lower today, opening at 49783.06 points, a drop of 23.31 points. The decline continued to expand, and once plunged 616.6 points. At around 9:53 Taipei time, the index reported 49552.96 points, down 253.41 points or 0.51%.
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What to Watch
AI outlook — possibilities, not facts
If U.S. Treasury yields continue to rise, Asian stock markets may continue to be under pressure
Likely · Within days
Open Questions
- Will the US Federal Reserve further raise interest rates to combat inflationary pressures?
- Will Asian central banks follow the Fed's policy changes?
- Will semiconductor demand be dampened by rising interest rates?
