I was checking market response to the news about Bear and I saw that the Nikkei had not only shed 450 points, but that it was trading below the Dow's Friday close. That got me thinking - hadn't the Nikkei been above the Dow recently. So I checked the chart and courtesy of Yahoo! Finance, I saw this.
I guess there is a great deal of concern about Japanese exporters and the US dollar. Or maybe just concern about Japanese exporters and the US economy in general. But is it really this bad? And if it is this bad, why is the US not showing similar declines? After all, Japan increasingly trades with East Asia so it's US leverage should be muted.
Thoughts?
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