Japan’s Nikkei down 8%, wipes out the gains for the year

The Nikkei 225 futures have now been suspended amid triggering the circuit breaker. Talk about carnage. In just three days, the Nikkei itself has erased its gains for the entire year-to-date. It was less than four weeks ago that the index hit a record high above 42,000. Pain.

The selling has been quite relentless not just here but in US futures as well. Tech shares are the ones bearing the brunt of the declines once more. S&P 500 futures are down 1.6% and Nasdaq futures down 3.0% currently. Meanwhile, Dow futures are down 0.8% on the day.

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