On the morning of August 2nd, an electronic stock board in Tokyo's Chuo Ward displayed a drastic decline in Japan's Nikkei 225 index, which plummeted more than 2,000 points. This event marked Tokyo's stock market hitting a six-month low with the index closing at 35,909.70, down by 2,216.63 points or 5.81 percent compared to the previous day.
This steep drop below the 36,000 level was the first time in approximately six months that such a decline had occurred, making it the second-largest in history in terms of points, with the most significant plunge since the "Black Monday" crash in October 1987. The downward trend was also felt in New York as on August 1st, the Dow Jones Industrial Average experienced a temporary drop of over 700 points, leading to growing worries about a potential economic deceleration. The market further reacted as the Institute for Supply Management's vital manufacturing index failed to meet expectations, exacerbating concerns about a potential economic slowdown.