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Stocks were hit hard last week in a selloff that marked their worst performance since June of 2012. Weakening growth momentum in China put significant pressure on global stocks and exacerbated the negative sentiment around emerging markets. As you might expect, investors have been on “easy street” with little concern about market corrections. This implied detachment from reality however, can lead to a random fight to safety. In other words, everyone started hitting the “sell” button. As a result, the S&P 500 has moved down some 3% in the last week while the Russell 2000 is closer to a loss of 5%.
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