actually there was a lot bad news overnight
S&P 500 -2.5%,
Dow -1.8%,
Nasdaq -2.7%
Stoxx 50 -3.3%,
FTSE -2.7%,
CAC -3.2%,
DAX -3.3%
Oil also dropped ~4.4% from yesterdays ASX close to todays ASX close..
Deutsche Bank -9.5% & credit-default swaps on the bank's debt (and others) soared.