Shares in Japan are now down about 6% and there are no safe havens. Yesterday, construction related stocks surged on the prospects of massive rebuilding contracts. However, today has the look and feel of a rout, as managers run for the exits.
Industrial related names like Toyota and Toshiba are down anywhere from 4-8%, while yesterday’s winners, construction stocks, are down anywhere from 6-23%.
Leading the downside, head tilted to the right, full retard on ambien, are shares of Miyaji Engineering, TOA Corp and Toyo Construction.
Refiners JX and Cosmo oil are down about 10%+, lending to a rise in crack spreads.
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this whole thing is starting to have the feel of an armegeddon to it.
Futures are not even down 1%… the last three days should have been bear heaven … I feel a quick painful rally for the bears soon….
ok now its serious