Markets Are Falling After Crash In Japan And Horrible Night In Asia

US markets are currently pointing to their third straight down day following a stunning night in Japan.

The Nikkei crashed 6%, while the yen surged, causing USDJPY (dollar vs. the yen) to lower to 94. Remember, not long ago it was well above 100.

The “Abenomics” trade is unwinding massively, in what had been the world’s hottest market. Now it seems to be turning into a nightmare.

It was a rout elsewhere in Asia.

Shanghai shed 2.7%.

Hong Kong fell 2.4%.

Thailand lost 4.6%.

Jakarta lost 1.25%.

India is down 1%.

Meanwhile, markets are down across Europe.

In the US, there’s a fairly big day coming up, with initial jobless claims, retail sales, and a big 30-yea Treasury auction on tap.

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