Brace yourself for an ugly day

Brace yourself for an ugly day

S&P 500 futures are down 60 points after yesterday's close at a record high. Dow futures are down 500 points and Nasdaq futures down 200 points.

The drop should put the S&P 500 right around 4300, which will be important support at the start of trading.

Stocks in Europe are down 2-3%.