After a shocking sell off at the close last week, the Asian markets they closed with heavy losses on Monday morning “treading” into bear market territory, evoking memories of the “Black Monday” of 1987 in Tokyo.

THE Nikkei recorded losses of 12.4% to end trading at 31,458 points in its worst daily performance since the stock market crash of October 1987. The Topix fell 12.23% to 2,227.15 points. Major corporate giants such as Mitsubishi, Sumitomo and Marubeni lost around 10%.

The sell-off in Europe continues

Similar is the climate in Europe, with the index Euro Stoxx 600 to open 2.28% lower. All sectors but also the major European bourses were in negative territory, with tech stocks leading the losses, losing 5%, while banks fell as much as 4.67%, while mining stocks fell 3.65 %.

The euro markets they opened at the lowest levels of the last semester, with the British one FTSE 100 to lose 1.7%, the DAX at Frankfurt to dive 1% and the CAC 40 in Paris to record losses of 2.1%. In the region of Italy the Spanish also loses 3.87% IBEX declines by 2.96%.

Athens Stock Exchange: Plunge 4.32%

Within borders, the Athens Stock Exchange appears to be decreasing in percentage 4.32%with the General Index standing at 1,368.33 points shortly before 11am.

The large-cap index is down in percentage terms 4.69%while the mid-cap index declines in percentage terms 4.52%.

All the shares of the high are moving downwards and the biggest decline is recorded in its shares Eurobank (-6.71%)her Aegean (-6.79%)her Autohellas (-6.41%) and her Viohalco (-6.12%).

Indicative of the prevailing climate is the fact that not a single month registers an increase, while 92 move downwards and 9 remain stable.

$287 billion was spent on cryptocurrencies

In this environment Bitcoin fell as much as 11%, with losses reaching 270 billion. According to data from GoinGecko, Bitcoin was trading 10% lower at $53,100 at 6:48 am. in London, adding to a 13.1% drop last week, which was the worst since the FTX market collapsed. Ether lost more than a fifth of its value, before recovering partially, changing hands at $2,360. Most major cryptocurrencies are moving in the deep red.