Nikkei 225 tumbles close to 5% - USD/JPY has another look below 149

The fallout in the US stock markets yesterday got little respite after the closing bell and the results from Apple, Intel and Amazon. The numbers from Apple and Amazon were not actually that bad, where they were from Intel. However, the stock prices of three fell back in the grey market last night and that has sent all US index futures lower since the close. That in turn ravaged the Nikkei 225 today and the index fell just over 2,000 points from where it had closed on Thursday. That fall sent the USD/JPY sliding back below 149 again earlier. It is off that low just now, as early European participants awake to the carnage. The low seen was set at 148.88 earlier and the dollar is not out of the woods yet it would seem. The important level that capped the downside yesterday (148.54) is likely to remain on the radar today, unless the risk dynamic improves ahead of the weekend. The USD/JPY is currently trading at 149.17