Caught a little bit of Joe Kernan this morning, and he said that over the past several months, he lost count of the number of experts who had been on Squawk Box saying that a “10% market correction was desperately needed.” He said the same experts now are foretelling the end of Western Civilization with the market dip.
The problem is the speed at which that 10% came.
I think if it was over a period of weeks or months many more people would view it soberly instead of emotionally.