It is clearly a time to be cautious and even wary, particularly of the China economy. China’s economy is shifting. Its commodity-driven, industrial complex is slowing down. All of the commodity markets, beginning with oil and copper appear to have adjusted to that reality, but the equity market traders seem to have been slow in understanding the memo. There are multiple impacts from this adjustment on both revenue and costs and analysts have needed to reconfigure estimates and valuations. The valuation step appears to have been taken for them with a violent downward move in stocks across all sectors and industries.