At least we are not witnessing any double-digit losses or anything approaching a “Black Friday”. The Nikkei is 1.8% lower and the Kospi, All Ords and HK are all 2.5% lower. Gold has fallen 0.3% to $1088/oz. JPY crosses are significantly lower on the day but USD/JPY has jumped over 100 pips from its earlier lows around 84.85. It looks like trading conditions will remain nervous and volatile until the European open but the big moves for the session are now probably over.