The eye is now on the most important event not from America but from Japan, which may be the spark for a market correction.
If the Bank of Japan decides to raise interest rates as expected by 50-70 points, it will be catastrophic for the markets, especially the American one.
The reason is:
There has been massive borrowing by Americans over the past years because the interest rate on loans is low, and they are injecting it into the American market with high interest rates.
Raising interest rates at this level by the Bank of Japan has not happened in years and will pull liquidity from America to their markets.
Awaiting the announcement from the Bank of Japan..
