Fed tapering remarks spark rout in Japanese shares

|By:, SA News Editor

Japanese shares (DXJ) drop 4% and lead Asian stocks lower after two Fed policy makers, including the dovish Charles Evans, said the U.S. central bank could start tapering as early as next month.

The remarks sent the dollar lower against the yen, which in turn helped drag down the Nikkei. The USD-JPY (FXY) is now -0.8% at ¥96.98.

Other Asian bourses were also hit, with Hong Kong -1.5%, China -0.7% and India -0.1%.