It's a Bloodbath on Stock Markets around the world this Monday morning.  As of 6:49 AM eastern US time, "Circuit Breakers" have been tripped in Japan and in Taiwan.  The China Stock Market Opened with a 9.8% plunge.

In Japan, two separate indices, the Nikkei 225 and the TOPIX, had trading halted by Circuit Breakers for "limit down."

In Taiwan, the market plunged ~9% triggering it's Circuit Breaker for "limit down" as TSMC and FOXCONN both plunged.

Hong Kong is down nine percent (9%) and the ASX 200 Australian Index is down 6.4%.

In Europe, the big news is GERMANY'S DAX INDEX FALLS 10%; RHEINMETALL DROPS 27%.

German stocks down 10%.

 French stocks down 6.5%.

UK stocks down 6%.

CHINA MOVES AGAINST THE U.S.

Over 2,000 mainland-listed companies have hit limit down in China, and China’s most active CSI 1000 stock index futures is now down 10%, hitting limit down.

LAUNCHES GLOBAL DIGITAL PAYMENT NETWORK BYPASSING SWIFT

The People's Bank of China just connected its digital RMB to 10 ASEAN and 6 Middle Eastern nations, covering *38% of global trade*.

This bypasses SWIFT and the US dollar entirely.
Payments now clear in 7 seconds, not 3-5 days.
Fees slashed by 98%.

Middle Eastern energy traders are in.

ASEAN’s RMB trade hit 5.8 trillion yuan. Thailand settled oil in digital RMB.

While the US debates if digital currency is a threat, China has already built a global network across 200 countries.

This isn’t just payments. It’s a Digital Silk Road. It’s de-dollarization in action. And it’s happening NOW.

Here in the U.S., market futures opened and dropped, with the Dow falling between 3% and 5% before recovering hours later to -2%.  The NASDAQ and the S&P-500 also saw similar trading, dropping between 5 and 6% before recovering to -3%.  

Regular trading opens here in the USA at 9:30 AM eastern time.

JP Morgan is now publicly saying the Federal Reserve may have to cut interest rates earlier and farther than it may have previously thought.

UPDATE:  In the time it has taken me to write this story, the Hang Seng Index is now down TWENTY PERCENT:

More as today goes on.  Check back later for updates.

UPDATE 7:54 AM EDT --

Korea Exchange activates sidecar trading curb on KOSPI

The Korea Stock Exchange Circuit Breaker has been tripped.  What they call "Sidecar trading" which is PROGRAMMED TRADING, has been temporarily suspended because the Korea Market is now down 12%.