Japan's Nikkei sees biggest rout since 1987 Black Monday TOKYO (Reuters) - Japanese stocks collapsed on Monday in their biggest single day rout since the 1987 Black Monday sell-offs, driven by last week's plunge in global stock markets, economic concerns and worries investments funded by a cheap yen were being unwound.
The Nikkei share average shed a staggering 12.4% as Friday's dismal jobs data heightened worries of a possible recession, and as the yen rallied to 7-month highs versus the dollar. This was the index's worst showing in percentage terms since the October 1987 crash.