With China closing the morning session limit down, US equity futures are extending their losses (even though crude futures are holding some of their gains). The initial knee-jerk jump as crude rose on Saudi tensions has been entirely erased and Dow Futures are now down 300 points from New Year's Eve highs... Happy New Year.
China closed the morning session "not off the lows" with a bloodbath in ChiNext and Shenzhen...
With Offshore Yuan crashing over 440 pips - the most since the August deval...
And US futures are tumbling...