ASX and NYSE - disconnected?

The vast majority of us inest in the ASX, but we're all looking towards Wall St, as though the twowere tightly coupled.

They definitely were in the past (eg 1987), but I see much less of a connection now.

The ASX didn't rise nearly as high as the DOW and the NASDAQ during the 90s boom, so why should it follow them down to new lows?

Yes, there will be a flow on effect, as analysts try to predict the impact of a US recession on the Australian market. But the levels of the markets will not be the same.