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USD/JPY tumble continues in drop below 144.00 mark
chart The pair has just hit the lows for the day at 143.55, threatening an over 2% drop today alone already. This comes as traders are sticking with the flight to safety as markets have gone into full blown panic mode. It's a bloodbath in the equities space with the Nikkei down over 7% currently, with S&P 500 futures down 1.6% and Nasdaq futures down 2.9% on the day. In the bond market, 10-year yields in the US are at their lowest since July last year - now seen at 3.76%. For some context, it's down over 50 bps in just a little under two weeks. And that's a contributing factor driving the downside in USD/JPY. In ... (full story)
Added at 12:35am
JAPAN'S NIKKEI FALLS BELOW 33,000 FOR FIRST TIME SINCE JAN 4 Added at 12:36am
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Japan's Nikkei down 8%, wipes out the gains for the year
The Nikkei 225 futures have now been suspended amid triggering the circuit breaker. Talk about carnage. In just three days, the Nikkei itself has erased its gains for the entire year-to-date. It was less than four weeks ago that the index hit a record high above 42,000. Pain. The selling has been quite relentless not just here but in US futures as well. Tech shares are the ones bearing the brunt of the declines once more. S&P 500 futures are down 1.6% and Nasdaq futures down 3.0% currently. Meanwhile, Dow futures are down 0.8% on the day.
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