Further Selloff Could Put Stocks on Track for Correction
ABREAST OF THE MARKET
Some see declines as likely in the U.S. as well, at least in the near term. John Kosar, director of research at Asbury Research, points to the S&P 500’s drop below 1814 on Friday—a level it broke through last year only on Dec. 20. Many investors who bought since then are now likely losing money, Mr. Kosar said.
“That’s the pressure point for the market,” Mr. Kosar said. “If you push on it, people feel pain. And when people feel pain, they sell.”