What. A. Beating.

The S&P 500 is down 32 points and the March lows are under threat.

S&P 500

S&P 500 daily

US 10-year notes are also closing in on the March/Feb lows.

US 10s

US 10s

The FX market is surprisingly cool with the moves so far but if those levels give out, USD/JPY and the rest of the yen crosses will drop.