No, I think that’s a market correction, actually. It was way overvalued. The charts of late are all logarithmic, just to make it look linear. The ‘growth’ in the last 2 decades doesn’t seem to be based on companies’ growth and the PE ratios have been quite high. All just my opinion and you could be right.
I would htink a total panic would include a run on banks. Don’t know if that’s happening yet or not, but I haven’t heard anything.
Frankly, I did a slow-motion run on my bank over the last 12-18 months.