"You probably have to distinguish between different countries. I think in Japan's case it's fairly easy it's all about exchange rates and that's obviously depressing sentiment and exporters and depressing the willingness and profitability of large companies," Richard Jerram, chief economist at Bank of Singapore told CNBC. "I think Korea is more interesting because that's more geared directly to the global cycle and it does suggest that maybe global demand is not really as robust as people had been hoping," he added.
The dollar is set to slide, and Poland's finance minister says the euro's on the edge — it's time for your FX Fix.
"True European fiscal union is something we will probably not see for another ten or twenty years," Alan Capper, head of credit strategy at Lloyds Banking Group told CNBC. He added that some countries within Europe were dealing with "generation long" economic problems and that some members of the Euro zone would have to get used to a long period of low or no growth and markets should price for the risk accordingly.