Stocks Are Tumbling

U.S. stocks have taken a sharp turn lower this morning as the Japanese yen strengthens against the U.S. dollar.

The S&P 500 is down about 0.7%, the Dow Jones Industrial Average is off about 0.4%, and the Nasdaq is down 1.6%. In Europe, most equity indices have fallen into the red as well. Spain's IBEX 35 is the worst performer there, down 1.4%.

The dollar is down 0.5% against the yen, trading near ¥101.50.

The charts below show movements in various markets. Across the top from left to right are S&P 500 futures, the U.S. dollar-Japanese yen exchange rate, and the euro-U.S. dollar exchange rate. Across the bottom are gold futures, 5-year U.S. Treasury note futures, and December 2015 eurodollar futures.

Thinkorswim