Down 20 % since May
Isn't that par for the course for many stock exchanges that initially got inflated by the money printing in Japan earlier in the year. And now everyone is getting the jitters because it looks like the Federal Reserve might start reducing the amount of money it prints. We've also had the "Sharibor" problem and indications that Chinese growth is going to slow.
All in all most stock market movements this year have extremely little to do with expected profits and lots to do with the "will they? won't they?" of loose monetary policy. But, hey, we won't let that stop us from writing clickbait.