A strong yen is a minus for Japanese stocks. In addition, a slump in the Nasdaq is negative for Japanese stocks, in particular expensive high-tech issues.

European gains should take away some of the doomsday mentality, but investors will be jittery wondering how U.S. stocks will react. There's still much selling left undone.

The slide in U.S. stocks looks non-stop. This is not a good sign for Tokyo, especially for high-tech exporters.

The slide in U.S. stocks looks non-stop. This is not a good sign for Tokyo, especially for high-tech exporters,

Investors may take a wait-and-see stance until the Bank of Japan comes out with its policy statement.

Intel cutting its revenue forecast will probably prompt some selling and pull the market lower.