The action overnight has been dramatic. The number for equity markets overseas seems to be four or more, as in declines of 4%-5%, with developing nation instruments suffering more.. The theme was a flight from risk and worries about further economic slowing
The dollar fell, particularly versus the yen the preferred vehicle of the carry trade. But the yen, at 105, is still well below its Bear levels of almost 95 per dollar.
Treasuries rose, with the two year dropping below 2%.
Crude falls more than $7 to below $95.