The Stock Market Is Getting Slammed: Dow Off 210

S&P 500 futures have been headed lower for most of the morning since around 6 AM ET, but the selling really accelerated at 8:30 with the release of better-than-expected initial jobless claims data, which may suggest that the Federal Reserve will be ready to begin tapering back its quantitative easing program as soon as the central bank’s September policy meeting.

Treasuries and gold are also taking a beating.

At 9:15, the Federal Reserve reported weaker-than-expected industrial production growth, which was flat in July.

Right now, the S&P 500 is trading down 1.4% from yesterday’s close at 1661. The Dow Jones Industrial Average, meanwhile, is also down 1.4%, or 210 points, at around 15,130.

The S&P 500 has closed down in six of the last eight trading sessions.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.