SP500 down 20%. We are in bear market territory.
Explanations for cause of this will likely depend on one's political persuasion. Take your pick - 9 years of ultra-low interest rates coming home to roost, inflation fears, rising rates, trade wars, unsustainable global sovereign debt, the leader of the free world with the emotional IQ of a 12 year old, etc. Oddly, the US economy is doing quite well, for now at least.
The only question is how much lower we go.
Important to remember we are still up 250% from market lows in 2009.
Edit: IMO, the article at the link does a great job explaining the core reason for the current market meltdown.
Link: In Defense of The Fed
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