Just when you thought it couldn't get any worse ...

Or just when you thought it was safe to go back in the water ... things get worse. As I stare at my Bloomberg screen here, I see ...

Hong Kong's Hang Seng down 8.3% overnight

Japan's Nikkei 225 down 9.6%

France's CAC 40 down 8.3%

The U.K.'s FTSE 100 down 7.3%

Germany's DAX down 8.3%

Long bond futures up 1 17/32

The Japanese currency soaring by roughly 5 yen against the dollar

The broader Dollar Index up by 104 bps to 86.40

U.S. stock futures locked "limit down" -- meaning they have stopped trading and won't reopen until the regular market opens at 9:30.

Need I go on? It is ugly out there this morning, very ugly.