Currency War Begins: Global Markets Tumble After Beijing Suspends US Agri Imports

China’s offshore yuan just collapsed…

Editor’s Note: Three months ago, the Treasury Department released its annual currency report in which the department refused to label china a “currency manipulator”.

Additionally, there is this Tweet from this morning:

*****

from Zero Hedge

Update 3: The carnage from yuan volatility is starting to spread…

Chinese bond yields are tumbling…

Dow futures are down 300 points…

S&P futures below 2900…

UST yields are collapsing…