Chinese major indices are down by more than 4% now
The Shanghai Composite and CSI 300 indices are extending losses on the day with the former down by 4.8% and the latter down by 4.4% heading into the close at the top of the hour.
Hong Kong's Hang Seng index is also down 3.1% now, and this doesn't bode well for equities in Europe and it's likely we'll see further flows into bonds and the swissie as a result.
German 10-year bond yields are down by more than 3 bps to two-week lows and the euro is also falling further on the back of that as well. EUR/CHF now trades to a session low of 1.1514.
S&P 500 futures are also down by 1.2% on the day now, hovering at session lows:
