TUESDAY 1/6/15; Cascading Global Selloff; Oil Prices Collapse; Global PMI Services; Global Yields Plummet; US 10-Year Treasury Yield Drops Under 2% then Loses 1.9%; German Bund Record Low Yield 0.422%; Japan JGB 10-Year Yield 0.287%; Factory Orders; US Stocks Selloff; Banks and Semiconductors Collapse

A cascading global selloff develops with Asian indexes trading lower and traders experiencing a heightened risk aversion. NIKK is crushed -3% printing the worst day in 10 months. Stocks tumble lower due to a stronger yen with the dollar/yen pair down through 119. Dollar/yen 118.83. Oil and gas giant Inpex is crushed -6%. SNE is down -1.8% despite reporting robust PlayStation sales. TM drives -3% lower.

China and Philippines markets are































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.................. flash-memory chip maker Micron earnings EPS are 97 cents a nickel beat but top line revenue is light. MU bounces initially but then drops -2.3% in afterhours trading. JCP is up +9.5% after reporting strong holiday sales so JC Penney is one of the retail winners this season. Drive-in restaurateur chain operator SONC jumps +4% after reporting positive earnings. JCP catches a stronger bid gaining +14% as the store clerks dance with glee. KBIO is bludgeoned -62% on disappointing results for its lung infection drug.