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