A long-awaited correction

AFTER many dull months in financial markets, another stock market downturn is finally here.

The trigger: slowing economic growth around the world, manifested in an oil price slump.

There is war, terror and disease, combined with the usual fears of rising rates. Europe is sliding back into recession. China is slowing and has debt problems. As for Japan, who cares?

The only economy left standing, it seemed, was the US. And then…