Nikkei Enters Bear Market to Extend Global Rout: Markets Wrap - Bloomberg:
The Nikkei 225 Stock Average slid into a bear market, as a global equity rout continued unabated in the last week of the year, with renewed turmoil in Washington rattling investors. Israeli stocks sank for a fourth day, while the yen and Japanese bonds rose.
The Japanese benchmark fell 5 percent on Tuesday, widening its drop to 21 percent from its Oct. 2 peak, taking its cue from the S&P 500’s worst trading session before the Christmas holiday. Chinese shares, the other major Asian market open on Tuesday, also declined as investors shrugged off a pledge by the government to do more to support companies.
Investors looking to Washington for signs of stability that might bolster confidence instead got further unnerved on Monday. President Donald Trump blasted the Federal Reserve, blaming the central bank for the three-month equity rout days after Bloomberg reported he inquired about firing the chairman, while Treasury Secretary Steven Mnuchin sought to assuage rising anxiety with a hastily called meeting of top financial regulators.
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