When Asian markets opened on June 13, few had the expectation of anything more than a routine day of trading. However, with a new report on China's slowing economy, and the Nikkei finally capitulating to the sellers, all hell broke loose and every exchange from Tokyo to London threw fundamentals to the wind and commenced an all out sell-off.
Charts courtesy of Zerohedge
To add insult to injury, the dollar is under immense pressure, with the Japanese Yen falling 172 bp to 94.15. Prime Minister Abe's vision of battling deflation has become a nightmare of Keynesian proportions.