The stock market keeps on falling

The poor sentiment in equity markets is spilling over into oil where crude is down $2.40 to $74.01 -- the lowest since Monday.

The drop is the first real setback for crude bulls since mid-September.

The market is worried about bonds but I think there's also real worry about China. The selling really ramped up after Mike Pence's speech today, where he attacked China.

It wasn't so much what he said but it's part of a deliberate propaganda campaign against China that kicked off a couple weeks ago.