Don't look at the number on your screen, showing the S&P down 1.4%.
Remember, the market was closed yesterday, and the major index futures were down over 2.2% during truncated trading.
So actually, compared to yesterday, the market is up quite nicely.
The only other winner: The dollar, thanks to the huge Swiss National Bank intervention, which might induce more European safe-haven flows to come to dollars, rather than Swiss Franc.
Meanwhile, this headline from Dow Jones just came out: "Bernanke Letter: Europe Credit Event Could Hit Many Markets, Financial Firms - Fed Closely Monitoring Developments In Europe"
Gold is down big now, having had a classically bonkers day of action.
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