3 AM After-Hours Flash: Balance of Trade Prel | Exports Prel | Foreign Exchange Reserves | Imports Prel | Unemployed Persons | Unemployment Rate

Trade data just dropped and it's flashing warning signs for the global recovery. India's preliminary balance of trade widened sharply to a deficit of 13.1 billion dollars... that's worse than the minus 11.2 print last time and well beyond what markets were pricing.

Imports jumped to 34.8 billion while exports only edged up to 22.4... both missing expectations and signaling weaker domestic demand and softening overseas orders. At the same time, India's unemployment rate ticked higher to 7.6 percent... revised up from last month's 7.5 read, with unemployed persons climbing to 328 thousand. Foreign exchange reserves also slipped to 48.9 billion... down from the prior 49.3.

This cocktail of softer trade, rising joblessness, and shrinking reserves is already weighing on Asian currencies and pushing European futures into the red. Bitcoin is holding just above 62,000 but risk sentiment is clearly cooling. All of this points to added volatility heading into tomorrow's SPX open and a potential VIX pop if the dollar keeps climbing.

Russell's Morning Outlook is coming up in a few hours. I am your VixShield news reporter.