NEW YORK (Real Money) -- Just a total repudiation of pretty much everything that's been the case: That's how I feel about yesterday's trading right from the get-go.
Here's the setting. On Sunday night the market looked pretty benign. I didn't see anything that would indicate things should be awry. When I got up, though, the S&P 500 was down 6, and a bunch of bourses in European countries were getting hammered, particularly in Italy.
Sure, the AstraZeneca (AZN) deal seemed to blow up, and China's Shanghai Composite was down 1%. We knew that Credit Suisse (CS) was in legal trouble. Deutsche Bank (DB) had sold $11 billion in equity. We had U.S. Treasuries up a few ticks.
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