Published with permission from Business Insider.
Strap in. It’s brutal across the board.
US futures are at their lows of the morning, thanks to grim market conditions all around the world.
First in Asia.
The Shanghai composite fell 2.6%. Japan fell 1.8% after another warning about its sovereign debt. Korea, which is facing threats of a bank run, fell 1.7%.
Europe is in similarly bad shape. The euro is getting hammered. The IBEX is down 1.7%. France’s CAC-40 is down over 1%.
On the commodity front, even gold and silver have reversed a bit, corresponding with a hard flight-to-safety spike in the dollar.