Over the weekend, U.S. Treasury Secretary Steven Mnuchin issued a statement saying that he "conducted a series of calls today with the CEOS of the nations six largest banks," which included Bank of America, Citi, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo, and the bank executives "confirmed that they have ample liquidity available" for consumer and business lending operations. To which, the collective response from the whole world seemed to be: "Wait, who said anything about not having ample liquidity?"

Mnuchin also said that the major banks "have not experienced any clearance or margin issues and that the markets continue to function properly." Again, since few expected otherwise, the "clarification" from Mnuchin only seemed to sow more fear and confusion.