The equity markets sold off sharply today on fresh jitters about the sovereign debt of Italy and Spain.
It is also quite important to remember that stocks have been very overbought short term and were ready for a correction.
"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”
Thomas More, The Sadness of Christ (Gethsemane), Tower of London, 1535