Elsewhere, S&P 500 futures are down 3% and in Europe we're seeing the DAX down by nearly 5% and CAC 40 down by 4%. As crazy as it sounds, we're getting so close to talking about the DAX erasing all of its gains for the year when at some point last month it was up by close to 18% year-to-date. Baffling.
In other markets, gold is one of the biggest beneficiaries here as the precious metal has surged up from around $3,090 to $3,133. It is up 0.6% now after having been down by around 1% at the lows earlier in the session.
Meanwhile, 10-year Treasury yields are also hammered down to 3.878% currently - down 16 bps on the day. For some context, yields touched a high of 4.40% just last Thursday. So, we're seeing it down by over ~53 bps from the highs in just a little over a week.
This article was written by Justin Low at www.forexlive.com. Read More Details
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