...by deciding to hike rates into an economic slowdown, the BOJ - which as we noted last week "changed the rules" again - has unleashed a financial apocalypse by creating a positive feedback loop that culminates with a deflationary collapse of all assets (as the bank now goalseeks a surge in the yen and thus deflation and economic devastation) which has led to not only to the Nikkei promptly entering a bear market from its all time high hit just 3 weeks ago and wiping out all of its year to day gains, not to mention collapsing 15% since last week's BOJ meeting which we knew would be a disaster...
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... which has also just suffered its biggest two-day drop in history, surpassing Black Monday...
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... but also the halt of trading of both its peer, the Topix...
So strap in folks, the day is just getting started...
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... which has also just suffered its biggest two-day drop in history, surpassing Black Monday...
![](/proxy.php?image=https%3A%2F%2Fassets.zerohedge.com%2Fs3fs-public%2Finline-images%2Fnikkei%25202%2520day%2520drop.jpg%3Fitok%3DfneYPXJv&hash=84e51e7760ed0c416857fff70e489617)
... but also the halt of trading of both its peer, the Topix...
- *CIRCUIT BREAKER TRIGGERED FOR TOPIX INDEX
- *JAPAN'S TOPIX INDEX FALLS 20% FROM JULY PEAK
- *CIRCUIT BREAKER TRIGGERED FOR JAPAN GOVT BOND FUTURES
- *NASDAQ 100 FUTURES DROP AS MUCH AS 2%
- *MIZUHO SHARES FALL AS MUCH AS 12%, MOST SINCE MARCH 2020
- *MUFG SHARES FALL AS MUCH AS 21%, RECORD INTRADAY DECLINE
- *KOSPI INDEX SLUMPS, TAKING LOSSES FROM JULY PEAK TO 10%
- *NASDAQ 100 FUTURES DROP AS MUCH AS 2%
So strap in folks, the day is just getting started...