Here's A Quick Run-Through Of The Huge Selling Overnight

Just waking up? Here’s the market action you’ve missed.

Let’s start in Asia:

  • The Nikkei got slaughtered falling 2.57% (though in fairness it was basically playing catch-up).
  • Shanghai which started the decline on Tuesday fell just .26%.
  • Korea’s Kospi was down nearly 1%.

And then to Europe, the epicentre of it all:

  • France down 1.7%.
  • London off 1%.
  • Athens down 1% (that’s practically a win!).
  • Germany down 1.8% (that’s not a win).
  • Spain’s Ibex is off over 3%. (That’s definitely not a win).
  • Moscow down 2.3%.

And turning to the US, all of the major US indices are pointing to a lower open, though nothing brutal yet.

Gold, meanwhile, has been drifting, losing ground from its 4 PM NYC peak yesterday, but still well above where it was 24 hours ago.

From KITCO:

chart

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