The focus in recent talks on Iran's enrichment up to 20% purity considered only a short technical step from weapons-grade nuclear fuel has reinforced the sense that the West could live with lower purity enrichment.

WSJ: Iran Pushes Back as West Awaits Nuclear Offer Response

At the talks in the Kazakh city of Almaty they are asking Tehran only to greatly limit its production and stockpiling of uranium enriched to 20 percent, which is just a technical step away from weapons-grade uranium.

NPR: Iran Nuke Talks Open, EU Asks Tehran To Compromise

The Dow fell 19%, so we can grade that call as an A. Unfortunately, once the technical crowd thinks that it has spotted a trend, it can get carried away.

FORBES: Uncharted territory