The market is correcting due to too much short term optimism.
Before this drop, 80%+ of stocks were on buy signals.
Too many bulls.
That's unsustainable. A correction was needed.
However, money is still pouring into US equity mutual funds and ETF's.
Just give it a 4-8 weeks to weed out the weak holders and the market will go back up … as earnings growth and outlooks are very positive.