ADP reported good data(Revenues Rise 9%, 8% Organically, to $3.0 Billion for the Quarter; EPS Rises 8%) this morning that should calm fears. The fear lately has been that the U. S. economy is slowing. ADP employment change came at 175K vs. 178K consensus
On the other hand, some technical are turning negative and for this reason technically oriented traders may choose to sell. The market had a significant correction but now there is even more room to go lower. Moving averages are pointing putting some more preasure in the market.
Gold jumped on the ADP data but is now backing off.
Oil is also backing off.
Interest rates are rising as they should.