At the beginning of the week, the Tokyo stock market and the Nikkei Stock Average temporarily fell by more than 700 yen from the closing price last weekend.
Last weekend, Chairman Jerome Powell of the Fed (Federal Reserve), the central bank of the United States, clarified his stance of continuing to raise interest rates in a speech, which spread fears of a cooling economy and plunged stock prices in the New York market. In response to the trend, sell orders have spread even in the Tokyo market immediately after the start of trading.