IPFS News Link • Economy - International
ANALYST: Japan Just Had Its 'Lehman-Like' Moment
• Business InsiderIn fact, Japanese equities were basically the hottest major asset class in the entire world before today's bloodbath, posting 20.9% cumulative gains over the past three months alone.
Last night, though, sparked by the first notable sell-off in three weeks in American stock markets – and really driven home by new data overnight that revealed the Chinese manufacturing sector has unexpectedly dipped into contraction – the Nikkei 225 plummeted 7.3%, marking its biggest single-day drop since the earthquake that ravaged Japan two years ago.
That takes the Nikkei back to levels not seen since May 9 (it's been moving quickly on the way up).