Boo: Cyprus Spooks Market

The Cypriot bank haircut that accompanied that country's bailout has created a shockwave that has hit the Asian market quite hard. The Nikkei finished down over 2% on fears of the wider implications.

Japan’s Nikkei Stock Average JP:100000018 -2.71%  tumbled to end 2.7% lower, while South Korea’s Kospi KR:SEU -0.92%  lost 0.8%, and Australia’s S&P/ASX 200 index AU:XJO -2.05% closed 2.1% lower.

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