Stocks and gold have taken a sharp turn downward.
Right now, the S&P 500 is trading around 1677, down 0.7%. Gold is trading at $1318 an ounce, down 0.8%.
The only economic data release in the United States this morning was consumer confidence, which unexpectedly soared to a six-year high in July. It's unclear what is driving the current sell-off.
The chart below shows S&P 500 futures.
Thinkorswim
The next chart shows gold futures.
Thinkorswim