How are the properties of a metal changed by strong inelastic scattering? We investigate this question within the two-dimensional t-J model using extended dynamical mean field theory and a generalized non-crossing approximation. Short-ranged antiferromagnetic fluctuations lead to a strongly incoherent single particle dynamics, large entropy and resistance. Close to the Mott transition at low hole doping a pseudogap opens, accompanied by a drop in resistivity and an increase in the Hall constant for both lower temperatures and doping levels. The behavior obtained bears surprising similarity to properties of the cuprates.