Japan's Nikkei and TOPIX indices have plummeted over 8%, marking their worst loss since 1987. Major trading houses like Mitsubishi, Mitsui & Co, Sumitomo, and Marubeni dropped around 10%. The yen also hit a low against the US dollar, reaching 142.77. This follows the central bank's interest rate hike and reduced bond purchases. Investors are pulling out as the yen strengthens.