Academic

That's a sell-off of everything, including stocks that have nothing to do with mortgages (though I guess every public company gets financed).  Political crises have often seemed to be a challenge to the efficient markets hypotheses.  We bomb Libya, the Dow plunges.  Today, traders hit refresh on their House vote screens, the Dow drops 700 points.  I'm sure they're just pricing the political risk into their purchasing decisions - and not panicking at all.