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The S&P 500 is down 16 points, which is around 1.0 percent.
Gold is also getting hit.
According to CNBC, traders are concerned about the rising tensions in North Korea.
This sell-off also comes in the wake of a disappointing ADP jobs report, which could be a bad sign for Friday's official jobs report.
It's worth noting, however, that stocks are still within a handful of points of their all-time highs.