I don't think there is any decoupling, the US is as always leading and the rest are following.
If things pan out as how you are suggesting, you will see interets rates everywhere falling as well as gold and oil.
For the US market to fall a further 10% to 15% ,it would mean that they are deep in recession ,that will have worldwide implications, no one will escape the fallout.
dow head n shoulders , page-28
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