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