Asian stocks have fallen sharply across the region, in a correlated response to the big reversal on Wall Street overnight as the bond market flipped out. Bitcoin is falling after being range traded the last couple of days, now breaking towards the $47K level with the four hourly chart showing the next support level at the $45K extreme low not that far away:
The Shanghai Composite is down nearly 2% going into the close, currently at 3519 points while the Hang Seng Index is losing ground fast, now off by 2.4% to 29342 points. Japanese markets have been the worst hit by the bond rout, with the Nikkei 225 wiping out nearly 3% as it looks to close around 29302 points while the USDJPY pair is holding on after some intrasession volatility at the 106 handle:
The ASX200 was the best market in the region, relatively speaking, only down 2% proper to be at 6695 points going into the close while the Australian dollar keeps falling after its 100+ pip reversal overnight, now back below the 79 cents level against USD having wiped out all its gains for the week:
Eurostoxx and S&P futures are tracking somewhat lower before the European opening session with the four hourly chart of the S&P500 showing a return to the previous extreme lows earlier in the week is probable later tonight:
The economic calendar finishes the week with US core personal consumption expenditure (PCE) and the closely watched Michigan consumer sentiment survey.
Have a good weekend and stay safe!