MUFG Shares Plunge 21% in Record Single-Day Decline, Japan's Stock Market Falls Over 6%

Aug 5, 2024, 12:36 AM

Shares of Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank, fell by as much as 21% on August 5, 2024, marking the biggest single-day drop in the bank's history and a record intraday decline. This decline contributed to a broader downturn in Japan's stock market, which saw a fall of over 6%. The TOPIX index triggered a circuit breaker after tumbling by about 20% from its July peaks, and the Nikkei 225 index fell by 7%, putting it on track to enter a bear market. The significant decline in MUFG shares and the broader market downturn highlight the severe market volatility currently affecting Japan.