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Article: Japanese Stock Market Continues Slide; Rumors of Gulf War Depress Nikkei; Index Ends the Week Off 12%
- Article from:
- The Washington Post
- Article date:
- September 29, 1990
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Today was another one of those days on the woebegone Tokyo stock
market.
It didn't seem to matter that a quick and firm denial was issued
to squelch the midday rumor that the outbreak of war in the Persian
Gulf was being reported by the British Broadcasting Corp. The rumor
still put Japanese investors in a selling mood, and sell they did,
driving the Nikkei stock index down 788.41 points, or 3.62 percent,
to close at 20,983.50.
Today's decline was the 10th in the last 11 trading days. The
225-share Nikkei index ended the week off nearly 12 percent-its
lowest point in more than 2 1/2 years.