joining me now isjoshua mahony, chief market analyst at scope market. asian markets have suffered their worst day in many years this week, spurred by a sharp sell off in semiconductor shares and global market contagion. what's happened so suddenly? well, we are coming to the end of a back of week that has been massive for markets. sadly we solved the bank of japan for markets. sadly we solved the bank ofjapan interest for markets. sadly we solved the bank of japan interest rates decision catch people off—guard, raising interest rates. that is the same time that we saw the federal reserve planning to cut interest rates in september. the markets are fearful after the back of a manufacturing survey yesterday that we saw the collapse, that points towards a rough session coming around the corner, at the same time we see inflation pressures building within the manufacturing sector. the stories around the japanese market at the moment firmly planted in the reversal we are seeing in terms of the japanese yen. how much of this relates to tech stocks and how much