Stock in japanese market index chart
Around the time the Berlin Wall was coming down and Madonna was climbing the music charts, Japan was a powerhouse economy with a soaring stock market to match it.
But exactly 25 years ago -- on December 29, , the Nikkei Index peaked at 38, The banks gave out too much money without scrutinizing the loans.
The stock market and economy collapsed. The s have been dubbed the "Lost Decade" in Japan, but the reality is the same could be said for the decade after -- from to Prime Minister Shinzo Abe is pushing through reforms on everything from taxes to government spending. Goverment spending could boost stocks.
Merrill Lynch echoed that sentiment in its Outlook: Consider that while the U. Nasdaq nearing 5, again. Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar.
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CNNMoney New York First published December 29, Looking for a low-interest loan? Check out our review of Prosper.
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