Following the big US dump on Friday last week, Asia opens deep red. The best performing bourse is New Zealand, down only 1%. The worst is South Korea's KOSPI, down 2.60%. Tokyo's Nikkei is down 177 points, or 2.1%.
From Yahoo Finance:
Worse for Japan, despite the Bank of Japan's intervention, yen keeps rising.
The US stock market futures are equally ugly, with Dow futures down 98 according to Bloomberg News.
There are some analysts who have been saying this feels the same as the summer of 2008. We know what came in the fall of 2008.