It only took 29 minutes after the open of cash equity trading for the Shanghai Composite to tank 7% and trigger the circuit breaker that halted trading. The Nikkei fell 2.3%, putting it at three-month lows.
US futures tanked, with the DJIA down as much as 370 points and the S&P500 off as many as 43 points before the open, although US stocks have gained ground in the first two hours of trading
After hitting 11-year lows on Wednesday, both Brent and WTI crude prices tanked to 14-year lows during European trading hours. WTI lost more than 4% and nearly touched $32, while Brent was down 4.3% and tested toward the lower end of the $32 handle.