It's certainly related to the financial sector going down. There is increasing concern that there will be more earnings misses or pre-announcements coming out. A lot of this is (also) options-related.
You certainly want to see anything related to manufacturing start to turn up, but it's not giving any indication of solidification,
Even though it's a tough environment for travel related stocks, the catalyst for American Express is going to be the ruling against Visa and MasterCard. It's a very significant positive.