The Nikkei is down by over 6% today
Meanwhile, Chinese equities have also lost further ground with both the Shanghai Composite and CSI 300 indices falling by 3% currently.
It is a real bloodbath in the equities market as we even saw S&P 500 futures trigger its circuit breaker on a 5% drop in four hours of trading today.
The heavy risk aversion looks set to continue into European trading and this will keep the likes of the yen and franc underpinned to start the session.
USD/JPY may be clawing back some losses to 102.70 currently but it hardly is worth much as the pair remains over 270 pips lower from the Friday close.
