Nikkei futures are down 8%

Photo by Chris McGrath/Getty Images

It looks like Tuesday will be a pretty nasty session for stock investors across Asia, especially those in Japan.

Wall Street just suffered its largest decline in years, volatility has spiked to levels not seen since August 2015, and the Japanese yen has rallied across the board — including by nearly 1% against the US dollar.

It all points to an ugly open for Japanese markets in just under two hours time.

Nikkei 225 futures were down by around 8% at 8.30am AEDT.

Nikkei 225 Futures 4-Hour Chart. Source: Investing.com

Just a few days ago all the chat was about the index hitting a multi-decade high. Now the index is on the cusp of a technical correction, and potentially worse should the late selling on Wall Street be replicated in Tokyo.

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