FINANCIAL MARKETS: Beware the Triple Whammy

Beware the Triple Whammy

During the 1980s, the Japanese spoke of the "Triple Merits" that were driving the Tokyo stock market's extraordinary rise: a strong yen, low interest rates and falling oil prices. Now that the Tokyo market is on a rocky slide, investors have labeled the culprits the Triple Demerits: a weakening yen, growing inflation and rising interest rates. The triple whammy has sent the Nikkei index down nearly 15% so far this year. In one session last week the index dived 1,569 points, or 4.5%, the biggest one-day loss since the 1987 crash. The index lurched up and down for the rest of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!