This is really getting real.
Japan has been destroyed again.
The Nikkei fell 5% last night, relative to Wednesday’s close.
This follows last Thursday’s big 7% crash, and several weak days in the meantime.
Remember, Japan had been on an extraordinary run starting last fall, thanks to “Abenomics”, the new aggressive stimulus campaign of the new Prime Minister. But lately things have just been a disaster market wise.
Among the concerns, a sharp rise in bond yields, that some fear could undermine the whole thing.
As you can see on this Nikkei futures chart, the market is only back to where it was at the end of April, which still means it’s had an incredible run. Still that is a startling dropoff.
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