Japan's Nikkei 225 falls 6% into bear market; South Korea's KOSPI drops 6% following emergency meeting

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The Fear and Greed Index reached extreme fear levels as Japan’s Nikkei 225 dropped 6% to 57,410.91 on November 6, entering a bear market after falling more than 20% from its June high. South Korea’s KOSPI fell 6.02% to 5,059.65, hitting a session low below 5,000 points and triggering its 11th circuit breaker. The South Korean government convened an emergency meeting, slightly mitigating the decline. The KOSDAQ declined 5%, with SK Hynix down over 10% and Samsung Electronics down 6.35%. Volatility in traditional markets is likely to affect the crypto market.

Huo Xing Finance reports that, on November 6, according to market data, the Nikkei 225 Index closed down 3,666.99 points, or 6.00%, at 57,410.91 points on Friday, November 6; the index has fallen more than 20% from its June closing peak, confirming entry into a technical bear market. The South Korean KOSPI Index closed down 324.15 points, or 6.02%, at 5,059.65 points; it initially dropped more than 8% during morning trading, falling below the 5,000-point threshold and triggering its 11th circuit breaker of the year. Following this, the South Korean government convened an emergency market conditions review meeting, after which the decline in Korean stocks narrowed. The KOSDAQ Index closed down 5%; SK Hynix fell over 10%, and Samsung Electronics dropped 6.35%.

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