Japan Tanks Again

Japan yen currency trader nikkeiREUTERS/Yuya ShinoAn employee of a foreign exchange trading company works in front of monitors displaying the Japanese yen’s exchange rate against the U.S. dollar (R), and the Japanese yen’s exchange rate against Euro in Tokyo December 19, 2013.

Good morning!

The Japanese stock market is standing out as the ugliest market in the world right now. The Nikkei fell 2.1% in Wednesday trading. It’s now tumbled significantly for three straight days, even as the other global markets have seen some stabilisation.

One factor weighing on Japan was a major Toyota recall affecting 6.4 million vehicles. The company says it is aware of no deaths associated with the mechanical issues. The stock dropped 3%.

Other than tht, markets are mostly quiet. US futures are totally flat. German stocks and the UK are up a little bit.

The big event in the US today will be the FOMC, which will shed more light on the first meeting under Janet Yellen.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.