US futures plunged more than 1.5% as China warned over its economy and the Five-year Treasury yield jump to the highest level since 2008. Investors continue to rush to the safety of the USD as the outlook worsens with no end in sight to China's Covid lockdowns. Real rates (interest rates after inflation) are shooting up higher in positive territory. The short-term outlook for stocks is blurred and volatility is likely to remain elevated. Crypto is also selling off strongly, following the significant selloff in next-gen tech stocks.