Breaking
Shares of Japan's largest bank, MUFG, are plunging by over 21%, this is the largest plunge in its history!
This significant drop will trigger ripple effects in the global financial sector.
Complete chaos in Japan, as stocks are headed for their biggest decline in over 8 years after already suffering their biggest plunge in 8 years last Friday.
(For those asking, MUFG is the largest bank in Japan, their J.P. Morgan, if you will)
This is the ninth largest bank in the world.
(*The reason for the massive drop: The Bank of Japan raised interest rates by 0.25%, trillions of dollars were tied to trading in a weak Japanese yen, and they unwound. The Japanese are facing a serious crisis after a long period of 0% interest rates.)
Index futures are plunging, and leading cryptocurrencies are plunging by double digits.