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This isn't about oil. Don't let anybody tell you otherwise. Shit was crashing last week and before the April 20 oil futures started cratering (they went to $27 last night) the Hang Seng was shit, Shanghai was shit, the Nikkei was shit, then FTSE futures went to shit, then Australia went to shit, then DAX futures went to shit, then all of Europe went to shit, then the Americas went to shit. You could watch it go around the country like the Wave around a stadium and it sure didn't start with oil. This is people reassessing the value of their assets and judging they'd rather have cash. Period.