It’s a ‘black swan’ moment in oil but nowhere else. The stock market is at risk of a 20% fall, say these strategists.

Almost everything except for bonds – stocks, interest rates, credit, gold and the U.S. dollar – is having “very normal white swan types of moves.”

​Almost everything except for bonds – stocks, interest rates, credit, gold and the U.S. dollar – is having “very normal white swan types of moves.”