Those claiming a 40% or great correction is coming are suffering from recency bias. The market is healthy despite the worries about this being the longest bull market in American history.
The Turkish crisis isn’t relevant to U.S. equities. This would have been an opinion with 100% approval 2 weeks ago, but now there is worry as the S&P 500 is down 1.3%.
While global growth is still expected to be strong in 2018, the first step towards a recession is the end of synchronized growth and overall growth going from great to good.
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