Auto makers were part of the problem today with Mazda dropping 7.3% and Nissan, Toyota and Honda each losing over 3.5%
After being downgraded by JP Morgan, Canon managed to shed 5.2%, the company said it would buy back 50b Yen worth of its own shares after market close today.
Sony lost 1.7% and found itself at a 32 year low.
The Hang Seng lost 2% with China Unicom the frontrunner losing 5.64%, the only stock in the index closing green was HonkKong Electric Holdings Ltd.
European Stocks are flat so far, however auto makers took a hit on the continent as well with Volkswagen losing 3.2, BMW losing 2.5 and Daimler down 2.2%.
Commodities are mixed this morning with Natural gas and silver futures up while crude and oil remain down.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market. Comments can be directed to ryghcw19@uww.edu