The cheap, rickety county fair clown car that is the US stock market took another nice little dive today: down 389 points, or 3.2%. Just your standard "Europe has no money left" fears. A decade ago this would have been considered a fairly horrific one-day collapse, but lately these swings of several hundred points per day have become as commonplace as the various Wall Street jokes which we are too sophisticated to make.

Once bloggers picked up on the fact that Intrade had gotten rather bullish on Obamacare, the price plummeted to 35. Today it's back up in the 60s. Curious!

It's still early in the trading day and anything could happen. But the financial apocalypse is not yet upon us. Despite the failure or firesale of three gigantic financial institutions over the weekend and hysteria in the financial press, the Dow Jones index of blue-chip stocks is down little more than 2% this morning. That takes stocks back to where they were on Thursday morning. Here's the market in realtime. (And now back to our regular panic.)

Are the Miami art fairs, going on now, doing something bad to Miami? "'You've got all these new Miami collectors who used to be happy shopping at Neiman Marcus,' says Wynwood gallerist and Basel exhibitor Kevin Bruk. 'They went to Basel for the novelty of it, saw all these beautiful people down from New York going crazy for art, and now they want in.' Dealers and collectors now prowl the halls of the city's two art magnet high schools like NBA scouts." [NY]