Dow Jones futures approaching 40k following heavy losses into the close last night

Well, no surprise to see that the there was no lasting recovery of any kind for the US stock markets into the close last night. In fact all three major indexes closed at, or very near their worst levels of the day. The Nasdaq 100 was heaviest hit but more on that in a minute. The Dow Jones was the best performer in relative terms but we are still talking the biggest one day hit to the index since June 2020. The Dow Jones closed 1,679 points lower, at 40,545.  That close defined a fall of more than 10% from the all time high seen last year, when the index reached a record at 45,073. The Dow futures are lower this morning, as the Asian markets fall hard again. The Nikkei 225 is once again leading those losses. At one point earlier today the Dow futures were pricing the opening around 40,200, but they are off the worst levels just now. However, it looks very likely we might see a test of that 40k level at some point ahead of the weekend. The Dow Jones is right now priced to reopen around 40,370.