Japan’s Nikkei is officially in Bear market territory. Investors around the globe are being reminded this morning how bad it feels to lose money. As The Wall Street Journal reports:
Markets across Asia suffered another bruising day as investors scrambled for the exits, with Japanese stocks falling over 6% and into a bear market, and heavy losses in China and across Southeast Asia. Declines continued in U.S. stock futures and in Europe.
The selloff has gripped global markets all week, fueled by uncertainty over the direction of the Federal Reserve’s monetary policy and signs of cooling growth in emerging economies. The mounting worries are sending cash to traditional safe haven assets of Treasuries, the yen and Japanese government bonds while finance ministers and central banks across the region are taking steps to calm markets.