Friday -- Kuroda, Crisis, YEN

S&P E-mini Futures:
Cratering.

News:
Found the following easily and quickly on Zero Hedge this morning, which can be a great clearinghouse for facts, yet I do NOT recommend it as a clearinghouse for opinions.

Bloomberg reported -- S&P 500 Futures Sink After Chinese Stocks Enter Bear Market

Yet, it's far more likely (given the trillions of bets riding on it) that it was Kuroda's comments from the BOJ that spooked things, for the S&P is following USDJPY lower on a bumpy ride.

(BBG) *KURODA: NO PLANS AT THE MOMENT TO ADD TO MONETARY EASING
(BBG) *KURODA: JAPAN'S POTENTIAL GROWTH RATE IS AT OR BELOW 0.5%
(BBG) *KURODA: QQE POLICY HAS A RISK FOR BOJ'S FINANCES

On to Norway, where the oil “industry is in a crisis now, we can’t deny that,” Bente Nyland, director general of the Norwegian Petroleum Directorate, told Bloomberg.

Crisis in the country which now has to rely "on its $805 billion wealth fund -- the world’s biggest -- to deal with budget holes." (BBG)

“The financial crisis was nothing compared to this,” said Teodor Sveen Nilsen, an analyst at Swedbank. (BBG)

This is starting to sound like capitulation.

Elsewhere, analyst earnings estimate cuts outnumbered upward revisions by the most since 2009 last week, according to monthly data from a Citigroup Inc. index.

Asia got pummeled last night, and it's ugly across Europe.

FX:
Watch the yen. 116.164 is a big deal (currently bouncing). Watch the yen.

Treasuries:
Watch treasury prices. They are doing what they should be doing, which means exploding higher.

Energy:
WTI crude is down hard, NG down in sympathy.

Metals:
Another slight bump in gold amid another crazed spike higher in silver, which looks manic. Copper dumping.

S&P Outlook:
Drew this chart yesterday. 1867.01 in the crosshairs. Tone is very dark.  Continuing to feel like a Reboot, however.