One minute, we’re contemplating the start of a stock market bubble; the next, a correction. The S&P 500 is down again on Thursday, putting it on track for its fifth straight decline. But let’s put this into perspective: It’s nothing.
Blame the current losing streak on taper-fears. Upbeat economic news from the United States – notably, jobless claims, manufacturing acivity and GDP growth – has convinced many economists that the Federal Reserve will soon trim its monthly bond-purchases, known as quantitative easing or QE. Early next year seems to be the most popular start time.