The markets are having another rough day, with the S&P/TSX index down 102 points to 6718. Volume has been heavy at 121.7 million shares, with buying volume more than twice the selling volume. Market breadth is more telling though, with losers outpacing winners by more than two to one. New lows are outpacing new highs by more than 10:1.

There’s blood in every sector except golds today. That group is up almost 2% on some safe haven buying. But industrials are down almost 4%, and there are deep losses in consumer stocks, diversifieds, materials, energy, utilities and telecoms.

Blue chip stocks are taking a pounding following another big sell-off on Wall Street today due to the lack of good news. BCE is down 3.4% on 1.8 million shares. Alcan is down 3.4%, CN has dropped 3% and Bombardier is down about 5%, as is Telus. Nortel Networks has dropped 2.6% in heavy trading, although there are gains in ATI and Celestica. Duke Energy is down 18.5%, Cott has dropped 6%. Nova Chemicals, Molson, Teck, Noranda and Brookfield are all notable losers too.

The financials are also losers too, with TD Bank down 1.8%, Manulife is off 1.2% and Scotia is down 0.6%.

Ballard Power is taking a big hit today, down about 21%, after a negative article in Barron’s over the weekend.

Golds are the only real gainers today, with Barrick up 0.2%. Bema Gold has gained 8.7%, Kinross has added 4.3%, and there are also gains in TVX Gold, Agnico Eagle, Glamis, Meridian Gold and Pan American Silver.

In New York, the market opened down and selling has intensified throughout the morning. The Dow dropped 309 points at midday, more or less its intra-day low, at 8375. The S&P is down 25 ticks to 896. Nasdaq has dropped 17 points to 1357.

The strength in golds is saving the small cap index today, it is down just a point to 1126. Volume is on the light side at 10.9 million shares. American Bonanza Gold is the top trader once again, up 5.3% on 740,000 shares.