Investors on edge as global market faces correction in 46 months

The global market selloff continues today and investors are worried. 

While there is plenty to be concerned about there is also plenty to be encouraged about as well. The U.S. consumer is stronger than ever with record retail sales, a strengthening housing market, an all-time high in consumer wealth of $84.9 trillion, and the best jobs market in 15 years. Europe's GDP is improving, manufacturing is expanding. 

In the Emerging Markets, India is expected to grow faster than China and global consumers are benefiting from low oil which is working its way through as a benefit to consumer spending. 
The bad news is coming from China as their growth takes a hit in declining exports and contracting manufacturing, setting off a knee-jerk reaction by its central bank in its unilateral devaluation, which sent shock waves in the currency markets. 

This certainly is spreading to the commodities markets and adversely impacting corporate earnings, in particular the energy sector. Markets normally have regular corrections but this market has gone 46 months without a correction so here we are. 

"We have been here before and investors that didn't "game diversification" and overact have been amply rewarded. Be assured also that the Fed is taking note and has powerful tools and options at its disposal while China, that won't get an award for its staid response, could still have a Mario Draghi moment and 'do whatever it takes'," commented Voya Global.