It took Japan only a few days to nearly erase its year-long stock market rally. The first three days of August saw the market plummet by more than 20%, with the worst daily sell-off in its history occurring on Monday, when it fell by 12%. This led to a widespread global market rout, leaving investors questioning whether another financial crisis was on the horizon.
However, just as panic began to set in, the stock market staged a remarkable recovery on Tuesday, rising by 10% – its largest single-day rise.
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