There's total chaos on global markets

There is chaos in global markets as stocks in China are down more than 5%, stocks in Europe are selling off, and now US futures are following lower.

In China, stock-index futures were down more than 5% in after hours trading, with the move spurred by regulators clamping down on the use of shadow financing to buy stocks and expanding the supply of shares available for short sellers, according to Bloomberg News.

This means, basically, that it just got harder to buy Chinese stocks are easier to bet against them. Tough for a market that’s almost doubled in the last year.

Stocks in Europe, meanwhile, just sold off.

Business Insider’s Mike Bird notes that the leg lower appears to be on little news, but stocks in Spain and Italy were off more than 2%, while German and French stocks were down by at least 1.4%.

In the US, futures are off about 0.7%, with Dow futures down 142 points, S&P 500 futures down 15 points, and Nasdaq futures down 41 points.

And, of course, there are headlines out of Greece. According to a report from Kathimerini, one of Greece’s largest newspapers, central banks of Albania, Bulgaria, Cyprus, Romania, Serbia, Turkey and the Former Yugoslav Republic of Macedonia have all forced the subsidiaries of Greek banks operating in those countries. This news sent Greece’s 3-year yield up 13 basis points at 26.34%.

To top it off, there was also a massive outage in Bloomberg terminals on Friday morning.

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