It's A Commodities Market Bloodbath

The 300 / YouTubeNot a fun day for commodity investors.

A big part of the commodity complex is coming under heavy selling this morning, especially in energy and metals.

(Gold just sank below $1500 an ounce for the first time since July 2011.)

Clearly, the economic data have not been encouraging today, and the tone in the market is decidedly "risk-off" (i.e., time to sell).

Here's a quick run-through of the latest damage:

• WTI crude oil -3.3%
• Brent crude -2.9%
• Gasoline futures -2.3%
• Heating oil -2.1%
• Gold -3.7%
• Silver -5.1%
• Platinum -2.4%
• Palladium -2.2%

Soft commodities are holding up in spite of the sell-off in metals and energy. Corn is up 0.8%, wheat is 1.6% higher, and soybeans are up 0.4%.