Just checked the australian market this morning and yeah, it's pretty rough out there. The ASX 200 is getting hammered, down over 3.5 percent to below 8,600 - we're talking about 316 points lost. This is basically the fourth straight day of selling pressure after Wall Street's negative close on Friday. The whole australian market is bleeding red across most sectors right now.

What's interesting is where the pain is concentrated. Miners are taking it hard - Rio Tinto down more than 5 percent, BHP sliding over 6 percent, Fortescue losing more than 3 percent. The banks aren't looking great either, with Westpac and ANZ both down over 4 percent each. Tech stocks are getting absolutely crushed though - Zip is tumbling almost 10 percent, Appen's slipping over 7 percent, Block and Xero both down more than 5 percent each.

The only real bright spot in the australian market today is energy. Oil stocks are mostly climbing since crude prices are spiking - Santos up almost 3 percent, Beach Energy gaining almost 2 percent. Gold miners though are also getting hit, with most names down 6-8 percent. The Aussie dollar is trading around 0.699 if that matters to you. Middle East tensions seem to be the main driver of this selloff, but honestly the australian market just looks like it's following the broader negative vibe from overseas right now.