Japan's Nikkei index touches bear market territory as global stock rout intensifies

Japan’s stock market experienced a significant decline on Monday due to a global sell-off following weak US jobs data. The Nikkei 225 fell by 7.1% in early trade, leading to a total loss of 21% since early July. This decline puts the market index at risk of entering bear market territory. Later in the day, the market pared its losses to 5.8%. The drop in Asian stocks was influenced by Wall Street’s sharp decline on Friday, driven by concerns over the weakening US economy. The Dow closed 1.5% lower, the S&P 500 lost 1.8%, and the Nasdaq Composite declined by 2.4%, entering correction territory.