|nikkei crash - nikkei stock market|
Well...ok, I admit this is not a crash. It was just the nikkei being put in its place after an exuberant rally.
Just weeks ago Japan had to INJECT over $19 billion Dollars into the financial system.
Today was horrific today, asn the nikkei stock market crashed. Right now as you read this the nikkei 225 is down down 1500 points from its highs and down 1150 (over 7%) from yesterday's close.
High-to-low this is the biggest drop in 26 months... and down 1000 points from its earlier highs.
All the time it is just the quadrillion JPY second-largest bond market in the world that is experiencing volatility on an unprecedented scale, the BoJ and her partners in crime are more than willing to 'officially' say "please do not worry." But when the equity market - that barometer of everything good and holy about Abenomics starts to crater, you can bet the excuses will come fast and furious.
Today's drop of over 1500 points (over 9%) from the earlier highs is the largest drop for the Nikkei 225 since March 2011. The Nikkei 225 just lost the all-powerful 15,000 level and is suffering another VaR shock with a 6-sigma move today. In fact given the price levels this drop is on par with the post-Lehman moves in 2008.
The question now (with US equity futures also fading fast -20 points and JPY crosses getting hammered) is how will the Japanese risk appetite for peripheral European crap hold up with this crimping in their plan as Japanese bonds and stocks dump?
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