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Good morning, I'm Michael McKee.

It is 7 a.m. on Wall Street, 8 PM in Shanghai, where the Iran is falling after China cuts

bank reserve ratios by 50 basis points.

The rest of the world so far ignoring it, the G20 of course over the weekend telling

investors they worry too much. This morning markets throwing their toys

out of the pram in response. Tokyo finished down 1.3 percent. Europe at the moment

is lower the stock 600 by 3 tenths about a point the Dax is down 95 points full percentage

point lower we are at the moment looking at a headline from the

Bloomberg professional federal mogul getting a merger proposal from

...