Rest-Of-World Equities Rapidly Going Red Year-To-Date

Asia is deteriorating rapidly this evening - extending losses from the US day session. S&P 500 futures just touched 1300 once again and credit markets are bleeding wider. Only the DAX remains positive for the year so far in Europe; today's price action pushed the Dow Transports into the red year-to-date and the rest of the US indices are rolling over rapidly; and in Asia-Pac - Japan and Australia are now in the red year-to-date (in USD terms) with the HangSeng getting close.

Sea of red this evening in Asia (orange oval) but YTD returns in USD terms are all heading rapidly towards the red side (red oval) of the ledger...

[5]

With Europe just a mess - leaving only the DAX in the green in local currency and USD terms...

[6]

and in the US, the Dow Transports turned negative for the year today and the rest are following closely behind...

[7]

Of course, credit and Treasury markets have been flashing the warning signals for a while now but we do still have Facebook tomorrow...does credit keep telling us that S&P 500 at 1000-1100 is more like 'fair' without all the monetary juice?

[8]

Charts: Bloomberg