SANITY FINALLY RETURNS – NIKKEI CRASHES OVER 1000 POINTS
The Nikkei 225 is now down 1500 points from its highs and down 1150 (over 7%) from yesterday’s close
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 1000 points (over 7%) 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 4-sigma move today. In fact given the price levels this drop is on par the post-Lehman moves in 2008.
As er patience, and nerves of steel is required. Both hard emotions!
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