Asia In The Red: Nikkei Drop Continues – Down 2.5%, -350 Points. European Futures Crashing!

Looks like it might be another bad day for Japan.
http://www.indexq.org/
http://e.nikkei.com/e/fr/marketlive.aspx
“Asian stocks fell, extending last month’s loss, amid speculation a strengthening U.S. economy will prompt the Federal Reserve to reduce monetary stimulus. The Australian dollar, gold and copper climbed, while oil declined.”
http://www.bloomberg.com/news/2013-06-02/asian-stock-futures-decline-as-fed-stimulus-concern-increases.html
All European futures down:
http://www.bloomberg.com/markets/stocks/futures/
Japanese Stocks Down Over 2% At Open; Nikkei 16% Off Highs


Charts: Bloomberg
http://www.zerohedge.com/news/2013-06-02/japanese-stocks-down-over-2-open-nikkei-16-highs

CHINA’S MANUFACTURING SECTOR IS CONTRACTING
China’s unofficial HSBC manufacturing PMI report is out and its disappointing.

The headline number fell to 49.2 from 50.4 a month ago.  This was worse than economists’ expectation fo 49.6.
A reading below 50 signals contraction.

Markit
http://www.businessinsider.com/china-may-hsbc-manufacturing-pmi-2013-6