Japan’s Nikkei closes down by a whopping 12% to its lowest since November last year

In terms of daily points fall, this is a record decline for the Nikkei. This even exceeds the drop from Black Monday in 1987. Talk about pain. The thing when you view the chart above is that there are plenty of margin calls surely amid the declines in the last three days. And that is a self-sustaining move in its own in driving further declines, which in turn is bolstering the Japanese yen. Where art thou BOJ?

This article was written by Justin Low at www.forexlive.com.