Japanese stock market suffers heavy blow, reenacting 1987's 'Black Monday'

The August 5th Golden Ten data reported that as the Tokyo Stock Exchange and the Nikkei Stock Average hit historic highs in recent weeks, people were saying that the stock market has finally broken free from the long-term poor performance since the 1980s, which is a relief. However, now, with the Tokyo Stock Exchange experiencing the most serious dumping since October 1987, and the banking index heading towards its worst day on record, this situation is rapidly deteriorating. Previously, the Tokyo Stock Exchange experienced a big dump of 31% within just five weeks due to the pandemic, while this decline has now lasted for four weeks, resulting in a cumulative drop of about 25%.