The Stock Market Rally Has Disappeared, And Gold Is Surging

U.S. stocks have been falling since the opening bell at 9:30 AM ET, erasing nearly all of the rally in the futures overnight.

The S&P 500 index has closed in the red for the past three days in a row. Right now, it's up only 0.1%, trading at 1692.

The dollar is dropping fast against the euro and the yen, and gold and other metals are surging.

The shiny yellow metal is up 1.4%, trading around $1304 an ounce, while silver is up 2.9%, platinum is up 3.1%, and palladium is up 2.5%.

The chart below shows S&P 500 futures.

The next chart shows gold futures.