Tremendous Losses for Sega, Nintendo
Hold on to your hat.
Broader market implications may be seen today from a giant loss in Japan’s Nikkei stock average. The 225 stock average dropped more than nine percent today, to 9203.32. That’s the biggest one day loss on the Tokyo Stock Exchange since the stock market crash of 1987.
Sega and Nintendo have suffered along with the Nikkei, both dropping double digit percentage points. Sega-Sammy Holdings finished the Japanese trading day down more than 11 percent, to ¥800 a share. That stock price is the company’s 52-week low. Nintendo wasn’t immune either–its stock plummeted ¥3700–ten and two-thirds percent, to ¥31,000 a share. That’s close to the company’s 52 week low of ¥30,700.
Where the madness will end, nobody’s sure. Many will be looking to the Dow Jones and NASDAQ later this morning to see if the bleeding can stop–or if sub-9,000 trading is in the cards, with sub-1,500 trading perhaps not far behind for the NASDAQ.
Loading ...
