I think with all the talk of a correction and the DOW declining,...

I think with all the talk of a correction and the DOW declining, and although I agree it was due, I think a fear has been created that things are only gonna get worse hence investors/traders arent buying and much and selling what they can.

If something like a correction is so widely expected, that expectation could be the cause. I think in general the Australian economy is doing much better than the US and we really have less to worry about than the yanks.