Japan Stocks Sink More Than 3 Pct (522pts) On Strong Yen, US Recession Worries

[Purveyor]

TOKYO, March 3 (Reuters) - Japanese stocks extended losses to more than 3 percent on Monday, with exporters such as Honda Motor Co Ltd (7267.T: Quote, Profile, Research) hit after the dollar touched a three-year low against the yen on growing fears of a U.S. recession.

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"With a huge drop in U.S. stocks and the sharply firmer yen, the fall can't be helped. Domestic trading factors can no longer calm the market," said Yutaka Miura, deputy manager of the equity information department at Shinko Securities.

"Depending on the outcome of economic indicators from now on, we might have to brace ourselves for the possibility of the Nikkei breaking below the recent downside hit in January."

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U.S. stocks tumbled on Friday as another round of weak economic data added to U.S. recession fears and a record loss at insurer AIG underscored worries about more write-downs in the financial sector.

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http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUST1110120080303?pageNumber=2&virtualBrandChannel=0

[jimlup]

1. Tomorrow's US open will be fun

[sepulveda]

4. dow futures down

101 pts right now. i LOVE big gap opens in the indexes. huge trading opp's usually

[Donkeykick]

2. It must be getting bad.

People in foreign countries own so much of our stuff, I was wondering when this trouble would hit them. :eyes:

[appletasty]

5. Bernanke must go

HE's doing nothing to alleviate the problem.

[Speck Tater]

3. Now over 4% down

http://finance.yahoo.com/intlindices?e=asia

[Mojorabbit]

6. Check out the dollar

http://quotes.ino.com/chart/?s=NYBOT_DX&v=s

[Art_from_Ark]

7. I wonder when, or if, the Bank of Japan is going to start intervening?

Last time, they invervened at about 102 yen per dollar. Right now, it's 103 yen per dollar.