Asian Markets Are Getting Slammed

Asian markets are in the red on Friday.

This follows on the back of a sell-off in the U.S. and disappointing data from China confirmed fears of an economic slowdown. This prompted many economists to cut their China GDP forecasts.

Mounting tensions between Ukraine and Russia also weighed on the markets.

  • Japan’s Nikkei is off 376 points, down 2.5%.
  • Hong Kong’s Hang Seng is down 0.8%
  • China’s Shanghai Composite is down 0.5%
  • Korea’s Kospi is down 0.4%
  • Australia’s S&P/ASX 200 is down 1.2%

“Investors are unwinding their long positions in the Nikkei and short positions in the yen,” Kyoya Okazawa at BNP Paribas told Reuters.

This five-day chart shows Friday’s stunning sell-off:

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