First, oil is up and stocks may likely go the other way.
Second, Paulson is talking about more bank insolvency, lots of banks. We know this is coming but investors seem to react badly when its made public and clear.
I think the gains from last Thursday and Friday are mostly reversed, but I could be wrong. We shall see.
Reuters: Oil up over $1 on Iran talks, Mexico Gulf storm
Oil rose towards $130 a barrel on Monday after its biggest one-week slide on record as inconclusive talks between Iran and world powers over Tehran's disputed nuclear programme dimmed prospects of ending the row.
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