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Markets are falling across the board.US futures are down modestly.
Europe is down (Italy off 1%, Germany down 0.2%, Spain down 0.6%, France down 0.3%).
This all follows a brutal session in Japan where the Nikkei 2.56%.
The big story there: A sharp yen strengthening. Investors have been loving the weakening yen, so the snapback here has caught equity by surprise.
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