US cash equity markets opened with no panic-bid, instead being met with a wall of selling after the ugly overnight futures session.

The selling wave was almost unprecedented, with a TICK below -2000 - the fifth largest 'sell program' in history...

As Bloomberg notes, sell programs of this size are typically not single events. They tend to happen in clusters and that probably means stocks might be in store for bigger losses.

This puke sent the S&P 500 to the lows of the year and into bear market territory...