Japan's benchmark Nikkei 225 stock average experienced a significant decline on November 1, 2024, closing down 2.63% at 38,053.67. The drop of over 1,100 points at one point during the trading day was attributed to negative sentiment stemming from a weak performance in U.S. technology shares the previous day. Additionally, a stronger yen contributed to the Nikkei's decline, marking its largest daily drop since September 30. Despite this downturn, the index managed to post a weekly gain of 0.37%. The overall market sentiment was influenced by concerns surrounding weak chip stocks ahead of upcoming U.S. economic data releases.