Japan's Stock Prices and Bond Yields Plunge on Flee to Safety

Investors punished Japanese stocks overnight, sending the benchmark Nikkei index down 5%. The flight to safety also meant the 10 year Japanese bond yield fell to below 0%. Australian markets lost 3%. There's more depressing news about oil prices. The International Energy Agency warned oil prices could fall again as Iranian output increased as part of a broader surge in OPEC output. The news comes after oil sanctions against Tehran were lifted and members of OPEC failed to agree on output cuts. President primary voting is underway in New Hampshire. Already the tiny town of Dixville Notch has turned in its results. Bernie Sanders won the democrat primary and John Kasich won the republican primary. Today, Wall Street is watching as President Barack Obama releases his fiscal year 2017 budget. December wholesale inventories are also released.