Monday was another very ugly session in Japan.
The Nikkei was down 3.7%, hitting a 1-month low.
Nikkei.comAs WSJ notes, the index is now down 17% from its recent high, which was just over a week and a half ago, meaning that from a technical standpoint, the index is on the verge of a “bear market.”
Although even if it’s not in one already, this really is a stunningly swift crash.
Japan had been the hottest market in the world, thanks to “Abenomics” the fiscal and monetary stimulus scheme proposed by its new Prime Minister. For a while it was a can’t lose investment. But starting two Thursdays ago, when it crashed 7%, it’s been a virtually straight line down.
Business Insider Emails & Alerts
Site highlights each day to your inbox.