Stocks Are 'Underreacting' to the Iraq Mess

Last week, it started becoming clear that the situation in Iraq was quickly taking a turn for the worse.

Things have unraveled further this week as the Sunni militant group, the Islamic State in Iraq and Syria (ISIS), continues to attack more cities throughout the region. This is a fluid and quickly shifting situation; earlier today, CNN reported that ISIS has advanced to Baquba, only 37 miles north of Baghdad.