A pedestrian wearing a protective mask passes in front of the New York Stock Exchange in New York, Sept. 14, 2020.
Michael Nagle | Bloomberg | Getty Images
This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Asking the market what it's upset about today and you'll get the answer Marlon Brando's biker-gang leader gave in "The Wild One" when asked what he was rebelling against: "What do you got?"
All the pressure points are right in the headlines – Europe Covid curve/lockdown fears, fears of a fall/winter without further fiscal help, Microsoft lowering guidance on softer IT spending, an impending election sapping risk appetites. Taken together they drain investors' ability/willingness to look across the economic valley to the cyclical snapback, pushing off the likely start date of "Back to normal" time.