What is the biggest risk factor you see in today's market?

An event that triggers CDS's. Really is a "weapon of mass distruction", and there are a lot floating out there. Obviously this will be triggered by a serious event....so that's kind of cheating.

To keep it relevant to current events....markets exerting pressure on France/Italy/Spain would suck.

External market forces? A massive oil spill or a solar flare that knocks out our infrastructure.

So I should probably stick with the initial worry. Nothing else really concerns me at the moment.

Uncertainty, uncertainty, uncertainty.

Corporations are sitting on mountains of cash and balance sheets are in much better shape than 3 years ago, but hiring and investment is stagnant because nobody knows wtf is going to happen in Europe. Without hiring, consumer spending will stay flat. WIthout consumer spending, hiring will stay flat. Bit of a dilemma, eh?

headline risk

Morons who act on whims, nothing has changed. What you call risk I call reward.

I don't know haha. Was trying to think of something completely unrelated to markets and it was the first thing that came to mind.