Nikkei plunges 11%

[notesdev]

bottom is dropping out of their market, as if Japan didn't have enough to worry about right now

http://www.google.com/finance?q=INDEXNIKKEI:.N225

I'm not one to call for black swans, but this may be it.

[davidinalameda]

1. I can't believe their market is even open right now

of course it's going to drop

[DJ13]

2. 11%?

If you mean over two days, yeah.

8,999.73
-620.76 (-6.45%)


Im watching our US markets to see how much longer the manipulators can keep propping it up before they're overwhelmed by sell orders.

[notesdev]

3. Sorry, tracking the day's futures

You'll see Google update it after the midday break they take in Japan. We're down to the -12% and below range already, still dropping. That's today, not including yesterday's 6% drop.

They're going to have to close the market I believe.

[doc03]

4. Isn't Japan in about as bad or worse deficit situation than

we are?

[notesdev]

5. Depends on how you count, but yes

In terms of pure on-the-books debt, Japan is running at 200% of GDP, which is vastly higher than any other nation. It's why they have been stuck at zero percent interest rates for two decades.

[doc03]

6. Well if they had Republicans over there this would be

the time to cut taxes wouldn't it.

[notesdev]

7. now 16% down

http://www.zerohedge.com/article/nikkei-flash-crash-futures-plummet-16-all-hell-breaks-loose-japan