Japan's Breathtaking 7% Plunge Is The Worst Since The Fukushima Disaster

Japan, which has seen an extraordinary rally this year, is saw an epic pullback today.

The Nikkei plunged 7.3%.

This is the biggest sell-off since March 2011, when Japan was hit by a tsunami.

This followed warnings from the Federal Reserve that it could begin to taper its monetary stimulus programs within a few months should the economic data warrant it.

A major catalyst for the global sell-off also seems to be the unexpected contraction signal seen in China’s manufacturing industry.

Here’s what the Nikkei looked like on Thursday via Bloomberg:

BloombergFor some context, here’s the 1-year chart:

Bloomberg

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.