RT Bloomberg Live (@BloombergLive)ICYMI: “Most developing countries have 1-2% insurance penetration rates… Most developed markets we’re talking maybe 40%... that gives you a sense of what happens when you do have these catastrophes,” Insurance Development Forum’s @eiyahen #SustainableBizSummit.⏯️https://t.co/KYgEwkIyl9 ...

and others. Let's bring in Wells Fargo Investment Institute senior global markets strategist Scott Ren. Scott, good to have you.So, the major averages closed down nearly a percent today. The NASDAQ fairing worst. It's not a reaction to the 10-year, which was lower today. It's a reaction to oil.Well, John, I think that's part of it. And, you know, certainly the market, especially if we have a big jump, uh, you know, $90, $100 a barrel or something like that, that's going to be a negative. But I think a lot o ...