Chinese shares battered, Treasurys hit 2-year high.

The great global sell-off continued today, with the focus of the angst turning from Japan to China, where shares (FXI) slumped 5.3% on continued fears about the cash crunch in the banking sector, as well as about the ending of the Fed's QE policy. European shares, U.S. stock futures, copper and government bonds caught the downbeat mood, helping to send 10-year Treasury yields to a two-year high of 2.61%.