Markets across Europe closed at their lowest levels of the day.
The London FTSE 100 fell 2.1%, the French CAC 40 fell 1.9%, the German DAX lost 1.2%, the Spanish IBEX 35 retreated 0.9% and the Italian FTSE MIB fell 1.0%.
European markets are now trading at six-week lows.
Meanwhile, in the United States, the Dow Jones Industrial Average is down 1.5% (off 230 points), and is now trading at 14,961.
The S&P 500 is down 1.4%, and the NASDAQ is 1.3% lower. All three are trading at their lowest levels of the day.
The S&P 500 is trading around 1617 this morning, 4.1% off its peak level of 1687 turned in on May 22.
And the Japanese Nikkei 225, after falling a whopping 3.8% in the wake of a speech from the country's prime minister that failed to deliver, continues to head lower in after-hours futures trading.
The Nikkei is now down 17% from its May 22 peak, only three percentage points away from a bear market.
10-year Treasury yields are down 5 basis points to 2.10%. French and German yields are down 2 and 3 basis points to 2.06% and 1.51%, respectively.
Italian yields are up 4 basis points to 4.13%, and Spanish yields are up 2 basis points to 4.42%. Portuguese bond yields are up 9 basis points to 5.72%.
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