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Stock Markets Drop after Bank of Japan Inaction

World share indexes have fallen after the Bank of Japan (BoJ) held off taking new measures to calm markets.

BoJ governor Haruhiko Kuroda said the central bank would consider fresh steps if borrowing costs spike in the future, but opted against further action now.

The news disappointed some investors, who are worried about the long-term prospects for monetary stimulus programmes in Japan and the US.

Stock markets in the US and Europe were all trading lower.

In Europe, London’s FTSE 100, France’s Cac-40 and Germany’s Dax ended the day down about 1%.

In New York, the Dow Jones fell 1% at the open, before recovering the loss during the course of morning trading.

Earlier, Japan’s Nikkei 225 index had closed down 1.45% at 13,317.62.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza