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Japan markets collapsing tonight

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Japanic Monday: Japanese Bonds, Stocks Halted After Plunging Into Bear Market As Everything Crashes Everywhere

BY TYLER DURDEN

SUNDAY, AUG 04, 2024 - 05:48 PM

https://www.zerohedge.com/markets/japanic-monday-japanese-bonds-stocks-halted-after-plunging-bear-market-everything-crashes

 

.. which has also just suffered its biggest two-day drop in history, surpassing Black Monday...

... but also the halt of trading of both its peer, the Topix...

• *CIRCUIT BREAKER TRIGGERED FOR TOPIX INDEX

... as it too enters a bear market...

• *JAPAN'S TOPIX INDEX FALLS 20% FROM JULY PEAK

... and the entire Japanese bond market:

• *CIRCUIT BREAKER TRIGGERED FOR JAPAN GOVT BOND FUTURES

Meanwhile, among today's freefalling stocks are such names as the iconic Nintendo...

• *NASDAQ 100 FUTURES DROP AS MUCH AS 2%

...and perhaps something more troubling, is that Japan's megabanks are in freefall, starting with Mizuho...

[NineLives]

All very expected. Japan's loose monetary policy (which has never worked in other countries) is coming back to bite them. And across the sea we have the Federal Reserve who swore that inflation was transitionary until it wasn't and should have cut rates in the US at least 6 months ago as economic numbers pointed to a slowdown, but they froze like a deer in the headlights.  Central

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Japan’s Nikkei logs worst day since 1987 Black Monday crash The 12.4% loss on the Nikkei was the worst day for the index since the “Black Monday” of 1987 https://www.cnbc.com/2024/08/05/asia-markets.html