Global Market: Very bad signals from global markets, Nikkei in Japan fell by 3% in intraday

Very bad signals from global markets, Nikkei in Japan fell by 3% intraday, Japan's Q2 GDP at 2.9%, estimate was 3.2%, heavy fall in US markets on Friday, Dow closed at day's low by falling 400 points, Nasdaq fell 2.5% due to selling in IT, Smallcap Russell 2000 also sold 2%, worst week on S&P 500 in 1.5 years, worst week for Nasdaq in 2 years.