And frankly, if the economy were to stall here in response to a protracted rise in oil, the uncertainty in the Middle East, or renewed problems in Europe, they might have a point.
Traders returned to panic mode on Tuesday in response to the rising price of oil and the growing uncertainty in what is now being referred to as MENA (Middle East, North Africa).
Uncertainty in global economic and financial conditions poses a risk that consumers and businesses may defer purchases in response to negative financial events, which could negatively affect product demand and other related matters.