Markets Are Getting Worse

Markets have been in the red all morning, and now they're getting worse.

Germany is leading the down in Europe, with a decline of 1.3%.

US futures are now down around 0.4%.

The big stories today: Rising tensions and economic deterioration in Russia, as S&P has cut the country's credit rating to one notch above junk.

In the US, Ford just missed earnings, and the stock is down 3% in the pre market.

Meanwhile, gold has blasted above $1300.