New Found Gold Corp V.NFG

Japan's Nikkei sees biggest rout since 1987 Black Monday

[Evenkeel123]

TOKYO (Reuters) - Japanese stocks collapsed on Monday in their biggest single day rout since the 1987 Black Monday sell-offs, driven by last week's plunge in global stock markets, economic concerns and worries investments funded by a cheap yen were being unwound.

The Nikkei share average shed a staggering 12.4% as Friday's dismal jobs data heightened worries of a possible recession, and as the yen rallied to 7-month highs versus the dollar. This was the index's worst showing in percentage terms since the October 1987 crash.

[DanWarren]

Why Evenkeel, you mean to tell me that Lil Shorty doesn't give you Canada's Civic Day off ?! I guess Lil Shorty ( some call him 'DoorMatt') has to be stingy, running a fly by night outfit, huh?

[nozzpack]

Japanese Carry Trade went completely off the rails when Japans central bank suddenly raised interest rates, which reversed what would be a nice tack of borrowing low interest Japanese funds to buy higher yielding USD.......an easy profit suddenly became on loss. Served em right..