What fundamentals were lacking before the corrections of the last couple of days?
Only because one side has been using this indicator to claim the incompetence of the other for so long (see attached). Despite evidence to the contrary. One side has been touting how great things are with this as an example. They are strangely silent or as is their custom, blaming someone else who has been out of office for a year.
At least the sell off has slowed down today. So far.
I'm reading the fear now is inflation. Which will cause interest rates to go up. Which causes its own problems.