In a way, the correction did have to do with the trade war with China. The markets were disappointed when the announced its manufacturing output for the month at a 10-year low. In fact, the last time the US had touched a low in manufacturing was back in 2009 June. Markets were also disappointed because the US was supposed to be the only growth economy in the world at a time when the EU, Japan, China and India are struggling to up growth. The US slowdown in manufacturing was a direct outcome of the trade war with China because China has closed out many doors for doors the US manufacturers. In addition, the warnings coming from Trump that he would delist Chinese companies from the US markets and shift US companies out of China has also not gone down too well with the market sentiments.