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Japan Market Sees Biggest Drop in 3 Years

Money traders work in front of the computer terminal at a foreign exchange brokerage in Tokyo, Tuesday, Feb. 9, 2016. Asian markets tumbled Tuesday as renewed jitters about the global economy set off a wave of selling. (AP Photo/Shizuo Kambayashi)
Japan Market Sees Biggest Drop in 3 Years
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The leading measure of Japanese stock prices dropped more than 5 percent Tuesday.

It was the biggest one-day loss in Japan’s Nikkei Stock Average in nearly three years.

In Europe, leading measures of stock prices also were lower on Tuesday.

Investors across the world have a number of concerns.

They include slower growth in the world economy, concerns about the financial health of big European banks, and low oil prices, according to Dick Hofschire of Fidelity Investments.

Hofschire said China may help determine future share prices. If China can recover from slower growth, he believes prices will move higher.

Adding to concerns is North Korea.

On Tuesday, the Japanese parliament passed a resolution that criticized North Korea’s decision to launch a rocket last Sunday. The resolution said the launch hurts international peace.

The measure passed with no opposition.

In the United States, a new study showed growing public concern about the economy.

For the week ending Feb. 7, 31 percent of U.S. adults rated the current economy as “poor,” compared to 26 percent who rated it “excellent” or “good.”

Fifty-eight percent of Americans surveyed said the economy is “getting worse,” compared to 38 percent who said it is “getting better.”

The Gallup organization reported the findings.

I’m Bruce Alpert.

VOA’s Victor Beattie reported on this story. Bruce Alpert adapted this report for Learning English. George Grow was the editor.

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Words in This Story

stock n. a share of the value of a company which can be bought, sold, or traded as an investment

determine v. to be the cause of or reason for something

survey v. to ask (many people) a question or a series of questions in order to gather information about what most people do or think about something