The Fuse
Equity futures are sharply lower this morning but well off the lows from a volatile overnight session. At the lows, the SPX 500 futures were down nearly 2.7% as oil futures ripped higher again. The VIX has stabilized somewhat now but markets remain vulnerable.
With equity futures down one might expect to see weakness overseas. STOXX in Europe was down 2.4% on heavy volume paced lower by France and Germany. FTSE in England lost 1.9%, Asian markets were whacked, Japan off 5.2%, Hong Kong down 1.4% and Shanghai down .7%. Oil as mentioned up about 10% but was up 26% overnight, ticking now above $100 per barrel. Gold and silver down, yields in Germany and US 10 yr treasury up 6 and 4 bps respectively.
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