Australia, Japan sell-off amid global rout; Nikkei drops 5.4%

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It is no small thing when one of the world’s great stock markets loses 1/20 of its value in a day. It happens though.

(From CNBC)

The Nikkei 225 tumbled, closing down 918.86 points, or 5.40 percent, at 16,085.44, falling for five of the past six sessions…

…”These markets need a strong shake up and sharp downside move, followed by a wave of buying to settle things down. But until that comes there will be no clarity, absolutely no confidence and a bucket load of concern,” he added. “There’s concern the volatility will feed through into real economics and central banks will be pretty much powerless to stop it.”

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