The Nikkei in Japan is getting smashed.
Investors – after briefly pondering the Bank of Japan’s decision to leave policy unchanged in April – are now running for the exits.
Japan is catching up after a holiday yesterday, but the falls in stocks are still pronounced. Bond yields are surging, with Japanese 10-year yields up 3.5 basis points, a 12% increase on the previous close on April 28th.
Currently the index is off 2.64%, 0.8% lower than where it was trading prior to the BoJ announcement.
The Japanese Yen is also stronger by 0.4% which is heaping pressure on listed exporters.