A strong risk-off sentiment in Asia briefly tempered during the Europe AM session, though risk aversion reappeared in the early PM session, which weighted on stocks. The haven yen outperformed after Japan's Nikkei 225 closed with a 5.4% loss. Other markets in Asia that weren't closed for the Lunar New Year holiday also finished in the red, while Europeans also slumped after giving up intraday gains. USD-JPY dove to a 15-month low of 114.23, since recouping to the low 115s but still remaining 0.6% down on the day, as London traders take to their seats.
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