Speaking of fear, stark naked fear has descended on stock markets everywhere. Wall Street is in a bloodbath and Asian markets are not having an easy time either. The Straits Times Index dropped over 30% from its zenith and Shanghai ‘A’ index tumbled over 65%. Seen from a positive lens, it is a sign that we are closer to bottoming out though.

Crude-oil futures hit an all-time, inflation-adjusted high above $103.76 a barrel on Monday. Light, sweet crude for April delivery was recently up $2.08 at $103.92 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange was trading up 70 cents at $100.80.