Eurostoxx futures -3.7% in early European trading ...Middle East

German DAX futures -4.4%French CAC 40 futures -2.6%UK FTSE futures -2.3%

S&P 500 futures are down 3.3% with tech shares leading the downside. Nasdaq futures are seen down 4.4% currently. That said, these losses in US futures aren't as bad as what they were at the open in Asia earlier. But for Asian indices themselves, it's a bloodbath out there as seen here. The Hang Seng itself is now testing a 12% decline on the day. Savage.

This article was written by Justin Low at www.forexlive.com.

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