Just a few hours out from the Wall.........>

EQUITIES: Just a few hours out from the Wall Street opening bell, US futures are

indicating a lower open Wednesday, likely erasing the bulk of yesterday's late

rally. Volatility measures remain well elevated with VIX futures today hitting

new cycle highs at 81.4. 

- In Europe's Stoxx 600, around 100 stocks trade higher while around 500 are

lower. The industrials and materials sector are the worst performing as the

stocks sink alongside the extended rout in commodities as WTI crude oil hit a

fresh cycle low this morning. All sectors are in the red, with communications

the best (or least worst) performer. All European indices are lower, but

FTSE-MIB's fall is the shallowest, with central support seen supporting for now.

- Markets keep an eye on daily limit-down levels for S&P futures after markets

already hit the -5% level overnight:

5% down 2393.50

7% down 2342.50

13% down 2191.00

20% down 2014.00