Nikkei falls by 2.5% on the day
This has seen a major drag across yen pairs as well, with USD/JPY slumping from 106.70 to a low of 106.11. There are volatile moves across Japanese assets right now, with the Nikkei fluctuating from over 2% losses to just a little over 1% in the past few minutes.
USD/JPY hit a low of 106.11 but is now trading at 106.30 at time of writing.