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Markets Dump Out As Godzilla Falls

Published 05/23/2013, 01:08 PM
Updated 07/09/2023, 06:31 AM

This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 15.75 points to $1639.75 per contract. Traders and investors are selling stocks around the world today. Last night, the Nikkei 225 Index (Japan) sold off by more than 7.0 percent on the trading session. It is safe to say, this was a crash in Japan. As you all know, the Bank of Japan has been printing money like it was going out of style and apparently it was. This is what can happens when you have these easy money policies by the central banks. Simply put, you cannot reap what you do not sow.

All of the major Asian stock indexes all declined sharply lower following Japan's lead. Traders should watch for weakness in all of the leading Asian equities. Equities such as the iShares MSCI Italy Capped Index (EWI), Market Vectors China ETF (PEK), iShares FTSE China 25 Index Fund (FXI), and the India Fund Inc (IFN) should all be under pressure today.

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