1) USA is leveraged to the hilt. 2) Foreign investors are nervous that the USA (and USA companies et el) cannot repay so they shut off investment funds into the country. 3) Massive amounts of money spent on a war that they cannot win, 4) a president making all sorts of incredulous foreign policy blunders, 5) lost jobs overseas (China) as well as over the border (Mexico) due to NAFTA agreement.

I would not expect a lot out of the market anytime soon. In fact, I would bet on a slight recovery (signal get out of investments) before another MAJOR move downwards through the end of September (at minimum). Not quite sure I would bet on the October rally either. (I guess only time will tell)