Japan is now down 13% from its recent highs just made last week.
One might quibble over technical definitions, but after last night’s 5% plunge, the Nikkei has crashed.
And yet. Despite Japan being one of the biggest stories in the world and one of the biggest markets in the world, other markets just don’t care.
The US had a rough day yesterday, but it’s basically at all-time highs still.
Today Europe is doing fine. In fact, Italy is having a quite solid day, as it’s currently up 0.5%.
The markets have gotten a hair wobblier in recent days (and the last couple of weeks) but it’s amazing the extent to which Japan continues to be something of a vacuum-case.