You never get drops of this magnitude without something serious going on. It’s not a pretty picture, and it clearly caught a lot of people off guard.

Just when you think you’re almost out of the woods, Wall Street has a way of changing the subject. The focus now is, how much will the economy slow and how much of a negative...

The key was the weak retail sales report that helped bond yields come in.

Right now, they’re close to capacity, so that relief valve isn’t there.

We were overdue for some profit-taking after a great run.