Japanese stock market Nikkei collapsed today, falling 7.3%, the biggest slump since the March 2011 earthquake and tsunami that caused the Fukushima nuclear catastrophe.
Other global markets have followed the trend, as usually happens.
The "official" version of the causes, reflected for example by Euronews, blames Chinese and European economic weaknesses. However, would that be the case, why would Japan be the first market to collapse and so dramatically.
The real reasons therefore seem to be Japanese many weaknesses: first and foremost the effects of the Fukushima nuclear catastrophe, which, no matter how much you deny them, are very real and scaring everyone inside and outside the Asian archipelago. Another weakness is the absolutely brutal (and ever-growing) public debt and related excessive strength of the yen. This pre-dates the Fukushima disaster but have been aggravated by the loss of export markets after it.
Main source: Ex-SKF.