In the wake of the three (and now possibly four) explosions that rocked Brussels on Tuesday morning, Belgium has cancelled all air and rail traffic to the city.
Eurostar has suspended all service to Brussels following a deadly explosion at Maelbeek metro station were more than 20 were reportedly killed this morning.
Meanwhile, all flights from the Brussels airport are cancelled.
This morning's Brussels bomb attacks have led to risk-off sentiment across European asset classes, with Bunds higher and equities firmly in the red, although if the Paris terrorist attacks of November are any indication, today's tragic events may be just the catalyst the S&P500 needs to surge back to all time highs. FX markets have also been dominated by events in Brussels, with USD and JPY strengthening, while EUR and GBP softening throughout the European morning.
I grew up in a small town in Long Island with some very funny people, Howard Stern and Eddie Murphy. Eddie had a skit in his stand-up comedy "Raw" which is a reminiscent of the macro scene of the modern day EU. Let me know if you get it...
Update: Belgian media have reported a fourth explosion.
Update: The Belgian army will deploy 275 more troops to Brussels as the city will once again come to resemble a war zone.
Update: Reports indicate the death toll from the twin airport blasts sits at 13 while casualties in the metro number 20. Cell phone networks are congested and authorities are encouraging Belgians to use messaging apps and social media to contact friends and family.
Authored by Paul Craig Roberts,
With much help from the failures of neoliberal economic policy and neoconservative foreign policy, we are changing the world.