THE SELLOFF GOES GLOBAL

Santiago chile stock exchange tradersREUTERSChilean traders gesture as stocks fall at the Santiago Stock Exchange January 9.

After a brutal US session yesterday, the selloff has gone global.

First in Japan, the Nikkei fell 2.4%. That was slightly off the worst levels of the session, but that’s still pretty rough, and it caused the index to have its worst week since Fukushima.

Meanwhile, Europe continues to slide. Germany’s DAX is currently down about 1.5%. The FTSE is down 1.2%.

The Australian market was down 0.9%.

Earlier in the morning, US futures had indicated a very tiny bump, but that seems to have given way. And currently NASDAQ futures are pointed slightly in the red.

Of course, things could end up looking totally different once US traders head in.

In the US there are two economic datapoints that people will pay attention to: Producer Prices and Michigan Consumer sentiment.

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