A major selloff is underway across nearly all asset classes: equities (S&P) -1.8%, WTI crude...

|By:, SA News Editor

A major selloff is underway across nearly all asset classes: equities (S&P) -1.8%, WTI crude -2%, gold -1.2%, silver -3.2%. VIX +9.4%. Economically sensitive stocks are leading the market lower: GM -3%, CAT -2.9%, GE -1.5%. Investors are snapping up dollars and Treasurys in a bid for safety, and dollar strength is hitting commodities.