A sell-off fever has gripped the Japanese market. Fears of a US recession prompted Yen buying making the Japanese currency soar. However, that hurts Japan's exporters. Automakers were hammered.
Germany's blue-chip Dax index and the euro have pared early losses suffered after Chancellor Angela Merkel's efforts to form a coalition government failed. But political uncertainty in Europe's biggest economy remains.
Norway's trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its holdings, saying it already has enough exposure to the industry and wants to protect against fluctuating oil prices.
Tokyo's Nikkei 225 has posted the longest winning streak in its nearly 70-year history as markets cheered the weekend election victory of Japan's pro-business Prime Minister Shinzo Abe.
Japan's stock market has continued its rally as investors are optimistic about the mid-term prospects for the global economy. The Kobe Steel data scandal no longer seems to worry traders that much.
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