Ghost of Igloi wrote:
There is absolutely no way one can isolate what has gone on in energy and commodities from the general economy. The fact that sovereign wealth funds are force to sell stocks into a falling market should be of no surprise. These funds had a nice ride on the way up, and now reality is setting in. And valuations do matter, all you have to do is look at the biotech sector today. At some point a realization will come that something is rotten and it is not just energy and biotech.
well it's a fallacy to say that stocks fall because of high valuations - it doesn't work like that. You need a catalyst.
I'm saying there is no obvious catalyst in the US.