John Authers, Columnist

Japan and Nvidia Reach Points of No Return

A 34-year-old record tumbles for the Nikkei, while the chip giant rebounds on the critical mass building in AI. Then there’s waiting on the Fed

February 22, 2024 at 5:33 AM UTC

By John Authers

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

A 34-year wait is ending.
Photographer: Soichiro Koriyama/Bloomberg

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Japan’s most famous stock index, the Nikkei 225, has just set a new record for the first time since December 1989. It puts a likely new milestone for the S&P 500 in the shade. The Nikkei suffers from some methodological flaws, and the Topix index, still a little short of a breakthrough, is more important these days. But it’s undeniably a big moment.