In our preview of last week's BOJ we refrained from giving details and merely shared a candid assessment of what we thought the result would be:

And we were right, because by deciding to hike rates into an economic showdown, the BOJ - which as we noted last week "changed the rules" again - has unleashed a financial apocalypse by creating a positive feedback loop that culminates with a deflationary collapse of all assets (as the bank now goalseeks a surge in the yen and thus deflation and economic devastation) which has led to not only to the Nikkei promptly entering a bear market from its all time high hit just 3 weeks ago and wiping out all of its year to day gains, not to mention collapsing 15% since last week's BOJ meeting which we knew would be a disaster...

... which has also just suffered its biggest two-day drop in history, surpassing Black Monday...

... but also the halt of trading of both its peer, the Topix...

... as it too enters a bear market...

... and the entire Japanese bond market:

Meanwhile, among today's freefalling stocks are such names as the iconic Nintendo...

...and perhaps something more troubling, is that Japan's megabanks are in freefall, starting with Mizuho...

and ending with Japan's largest bank, its JPMorgan, if you will, which just plunged the most on record!

It's not just Japan: Korea is getting swept in as well...

... and of course, the US, where Nasdaq futures crashing as much as 2% and the S&P is down 1.1%

And then there's bitcoin which, well, lets not even go there.

So strap in folks, the day is just getting started...