Asian Markets Sell off Again, Japan's Nikkei Leads the Way

The Japanese Nikkei index leads most Asian markets lower overnight, amid ongoing volatility in the oil market and concerns that global growth is slowing. Losses in the Nikkei were 3.2%. The Hong Kong Hang Seng closed down 2.3%. It was the second day of declines for most of the Asia region, which had rallied at the end of last week amid a Bank of Japan interest rate cut. Yahoo (YHOO) just officially hung up a 'for sale' sing. Company chairman Maynard Webb says Yahoo its exploring its strategic alternatives. Yahoo also announced it will cut 15% of its workforce. Chipotle Mexican Grill (CMG) reported its first sales decline in the 4th quarter due to a nationwide food safety crisis and said the criminal investigation in California over outbreaks has widened. Chipotle also said another subpoena has been issues, broadening the scope of the investigation into its food safety procedures.