The Nikkei has opened almost 300 points lower this morning in early trading with financials smashed across the board with Citi the worst of a bad bunch diving 24%. Things are not that much better in Australia with Westpac and Suncorp both down over 3% as were Woodside, RIO, BHP and Alumina.
It looks like the risk aversion trade is back with us for a few sessions at least now.