So one risk posed by Asia is that a small (and otherwise desirable) correction on Wall Street could become a crash.

ECONOMIST: The Asian effect

Remember that the correction on Wall Street over the past month has been modest: it has subtracted something from the case for higher interest rates, but certainly fails to justify a cut.

ECONOMIST: As bad as it gets? | The

And Wall Street is telling us the correction in the U.S. market is already over with a decline of just 6%, and U.S. economic reports still coming in more negative each month, and with more roadblocks to recovery still ahead?

FORBES: Too Soon To Buy The Dip In This Market

Yet already Wall Street is assuring investors that the correction is over, and the lower prices are presenting a buying opportunity.

FORBES: Too Soon To Buy The Dip In This Market

Rallying for six days in a row, towards the upper limit of its trade range with low volume, Wall Street is ripe for a short-term correction.

FORBES: Beginning of the Week Market Review: Investors Should Keep an Eye on the "Big Picture"

As I discussed last week, the increased bullishness of some of the big Wall Street strategists has me concerned about what kind of correction we may see in the coming months.

FORBES: The Week Ahead: Will Spring Showers Dampen Your Portfolio?

As the stock market has stalled and moved sideways since mid-February with economic and inflationary worries increasing, Wall Street is beginning to put out advice on how to prepare for a potential market correction.

FORBES: Defensive Stocks Are Losers In Corrections, Too