Airbus A320

An EgyptAir flight carrying 56 passengers and 10 crew members on a flight from Paris to Cairo disappeared from radar over the Mediterranean, Egypt’s national airline said. A search is underway but officials said they believed the jet went down in the sea. Sky news reports: French President Francois Hollande said “unfortunately the information we have … confirms to us the plane came down and is lost”, suggesting it crashed near the southern Greek island of Karpathos where the search is focused.

After yesterday's algo-driven mad dash to close the S&P green both for the day and for the year following Fed minutes that came in shocking hawkish, the selling has continued overnight, led by the commodity complex as rate hike fears have pushed oil back down some 2% from yesterday's 7 month highs, which in turn has dragged global stocks lower to a six-week low, while pushing bond yields higher across developed nations as the market suddenly reprices the probability of a June/July rate hike.

Six months after an Airbis A321 operated by Russia's Metrojet exploded shortly after takeoff from Egypt's Sinai peninsula en route to St. Petersburg, killing all 224 people on board in what was an ISIS-inspired terrorist attack, overnight there has been another aircraft-related tragedy when an EgyptAir flight carrying 66 passengers and crew on a flight from Paris to Cairo disappeared from radar over the Mediterranean shortly before landing, at 2:30am local time. Officials said they believed the jet has come down in the Mediterranean sea.

A British Airways pilot has reported his plane being struck by an object believed to be a drone as it approached London Heathrow airport on Sunday afternoon, according to the Metropolitan Police. The BBC reports: The British Airways flight from Geneva was hit as it approached the London airport at about 12:50 BST with 132 passengers and five crew on board. After landing, the pilot reported an object – believed to be a drone – had struck the front of the Airbus A320. Aviation police based at Heathrow have launched an investigation. Police said no arrests have been made.