It’s not clear what’s going on, exactly, but there’s been a sharp bout of Euro area selling.
The DAX has dropped over 1.3%.
And the Euro has plunged, per this chart from FinViz:
It’s already a risk off day, but around 4 AM things really took a jolt.
UPDATE: There had been a seemingly twitter-borne rumour about Bundesbank chief Jens Weidmann resigning. The Bundesbank has rejected that in strong terms.
Bundesbank: Market rumour Of Weidmann Resignation “Utter Garbage”
— DJ FX Trader (@djfxtrader) January 22, 2013