Japan's stock market, the Nikkei 225, is currently set to post its largest 2-day drop in history. This is an even larger drop than the Black Monday crash of 1987, per Zerohedge.

South Korea exchange triggered its ‘sidecar’ on Kospi futures, halting all program trading for 5 minutes. The country's KOSPI index fell 5%. The 'sidecar' is a rule that lets the Korea Exchange halt futures trading of equities during periods of extreme market volatility.