Japanese stocks fall almost 6% just days after shock rate rise

Japanese stocks were hit hard Friday, capping off a volatile week in the financial markets with a near 6% selloff and a day of recalculation and growing pessimism.

“The government wanted the yen to be stronger but not a landslide drop in equities,” said Shoki Omori, chief desk strategist at Mizuho Securities.

In the span of less than a month, the 225-issue Nikkei average went from all-time records to a shocking rout. It is now down almost 15% from its all-time high.