Japanese stocks are getting destroyed

Stocks in Japan were getting absolutely destroyed in early trade on Friday.

Both the Nikkei and TOPIX indexes, the major benchmark indexes in Japan, were down over 5% early in the day on Friday morning.

The early dump in Japanese stocks follows what was an ugly day in the US where the major averages fell as much as 2% before a recovery into the close.

All in it was still not a good day in global markets and the week - which has been a rocky one - looks to be ending on yet another difficult note.

Before markets opened Friday, Japanese Finance Minister Taro Aso, "stepped up his verbal intervention," Reuters reported. The Japanese yen, which rallied on Thursday, was little changed following Aso's commentary.

Here's the drop in the Nikkei.

investing.com

And the TOPIX.

investing.com