Japan Got Slammed

Haruhiko Kuroda
Bank of Japan governor Haruhiko Kuroda REUTERS / Lee Jae Won

Markets are selling off around the world.

Japan got hit the worst, with the Nikkei closing down 4%.

Today, the Bank of Japan began its two-day monetary policy meeting. Analysts expect the meeting to conclude with the announcement of more easing.

However, Bloomberg reports that there is some speculation in the markets that the BoJ might refrain from adding any new stimulus.

“Short- term trading volatility in Japan has unfortunately diverted investors’ attention away

from the fact that economic and profit fundamentals seem to be improving,” said Wall Street veteran Richard Bernstein. “We have invested in Japan because of this secular backdrop, and expect the country’s secular fundamentals to improve.”

Here’s a look at the Nikkei via Bloomberg: