It's a risk off night.
US futures are lower as is the Aussie dollar.
The big weight:
The main Shanghai Composite is down 2.3%.
These two images/tweets from CNBC's Deirdre Wang Morris tell more about what's going on. Seems to be an issue related to expectations of more property curbs and also fresh regulations on China's infamous wealth-management products, per this story in the WSJ.
Never mind the big banks... check out the mid-tier Chinese banks...OUCH. Also most heavily traded on $SSEC at moment twitter.com/deeCNBC/status…
— Deirdre Wang Morris (@deeCNBC) March 28, 2013
Chinese developers plummeting too.Major property, banking plays bleeding at the start of trade doesnt look good $SSEC twitter.com/deeCNBC/status…
— Deirdre Wang Morris (@deeCNBC) March 28, 2013
China Sec Journal: details of property tightening curbs for 1st tier cities cld be released March 31, citing insiders twitter.com/deeCNBC/status…
— Deirdre Wang Morris (@deeCNBC) March 28, 2013