Japan Tanks Again


japan yen currency trader nikkei

REUTERS/Yuya Shino

An employee of a foreign exchange trading company works in front of monitors displaying the Japanese yen's exchange rate against the U.S. dollar (R), and the Japanese yen's exchange rate against Euro in Tokyo December 19, 2013.

Good morning!

The Japanese stock market is standing out as the ugliest market in the world right now. The Nikkei fell 2.1% in Wednesday trading. It's now tumbled significantly for three straight days, even as the other global markets have seen some stabilization.

One factor weighing on Japan was a major Toyota recall affecting 6.4 million vehicles. The company says it is aware of no deaths associated with the mechanical issues. The stock dropped 3%.


Other than tht, markets are mostly quiet. US futures are totally flat. German stocks and the UK are up a little bit.

The big event in the US today will be the FOMC, which will shed more light on the first meeting under Janet Yellen.