USD/JPY falls to afternoon low
The S&P 500 is under heavy selling pressure once again, down 73 points, or 3.75%, to 1897. For the first 2% or so of the afternoon decline, the FX and bond markets barely reacted but now it's beginning to spill over as USD/JPY slides to 118.49 from as high as 119.47 a few hours ago.
