One of the reasons being tossed around to explain the wave of risk aversion is a report from BBC Persian that three explosions were heard by residents in Tehran.

Three explosions were heard in western Tehran on Tuesday, in an area where Iran carries out missile research and storage.

The market is jittery about the Middle East after Israel attacked Syrian targets on Friday.

I’m a bit skeptical that this is directly the reason for the turnaround in sentiment because the reports have been circulating for more than an hour but it’s one of the ideas that’s out there.

There are also the reports of UN peacekeepers being abducted in the Israel-Syria border region.