• German DAX futures -3.8%
  • UK FTSE futures -3.1%

It's looking rough out there with S&P 500 futures also marked down by 1.8% currently. At the moment, the basis trade implosion is the key thing that markets need to be wary of. The surge in bond yields is bound to have reverberations as well, with 30-year Treasury yields briefly touching 5% earlier.

Source: Forex Live