Japan's carmakers are reporting a huge drop in sales in China, and it's not about China's slowing growth. Anti-Japan protests in China are such an issue, Toyota and Nissan have both cut back on Chinese production.
In China over the weekend, activists smashed shop windows and overturned cars in a wave of anti-Japanese protests. The protests center around a couple of uninhabited, rocky islands in the East China Sea.
In Japan, two big electronics companies are reporting disappointing earnings this morning. Sony is reporting a $316 million quarterly loss. And Sharp announced a $1.2 billion loss, which was much worse than expected.