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But the market hasn't seen a significant correction since 2011, and we were due for one.
The market has since experienced a significant correction: there are now just 1,000 sites, and only 300 generate revenue.
If they react abruptly to falling sales by building less, the housing market may be "on the verge of a significant correction", argues Ian Shepherdson of Pantheon Macroeconomics.
For Mr. Worth, the selling seemed to validate an argument he has been making for several months, that stocks are overdue for a significant correction.
The market has risen for six years in a row, and there hasn't been a significant correction (a fall of at least ten per cent) in more than three years.
"The market's had a big run the first quarter and we could see some sort of consolidation phase, but I don't see the market vulnerable to any significant correction.
Jeffrey Nichols, the managing director of the American Precious Metals Advisors, said that the recent run-up in gold had been "so large in magnitude and fast" that "to have a significant correction here really makes sense".
"If there is a subsequent and significant correction, the naïve investor following this strategy may well panic and sell out," said Harold Evensky, a financial planner in Coral Gables, Fla. "That would be a disaster".
We regard that as a significant correction.
This represents another source of significant correction error.
Certain sectors like adtech already experienced a significant correction this year, and others may follow.
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