It's not just the US that is seeing a huge sell-off. Japan's Nikkei (^N225) saw its worst day since 1987 while European markets are trading sharply lower as well (^FTSE, ^FCHI, ^GDAXI).

Yahoo Finance markets reporter Jared Blikre takes a closer look at the global market action.

For more insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Stephanie Mikulich.