There was a major selloff in Europe and the US today as fears of slowing economies and a sovereign debt crisis intensified.
There was a flight to safety in the dollar and Treasuries, and early on in gold. But the price rise in gold and silver was cut short as selling increased and it turned into a general liquidation.
Non-Farm Payrolls will be released tomorrow morning.
The Federal Open Market Committee will be meeting next Tuesday. The cynical part of me suggests that this week is a setup for QE3.
