As always, I have an opinion and this time it doesn't match that of many of the talking heads. So here goes...
I don't believe any of the reasons that are proposed for market swings, ever. I think the writers desperately want to believe that they can control and/or predict the market so that they can keep their phony-baloney jobs working for the mass media (job description: "prophets"), and that is why they write such foolish things.
But really, when does an investor sit back and think, "Gosh, the elections are coming up, the Chinese are doing weird things, and the Iranians are acting rash again, so I think I'll get out of the market or change my AA?" Well, maybe some, but to me, it seems more likely that the investor would think, "Gosh, I'm retiring next month and I'm getting old so I'll change my AA and also invest my bonus this year instead of spending it on booze and women". In other words, personal issues and events in one's personal life trump political issues every time, IMO.
And even more importantly, I think the market has its own life and cycles and really does not respond much at all to the type of things proposed by the talking heads. This is not very appealing to most people because it means that they can't predict or control the market, but I think it is the cold hard truth.
We are fed what to think by the media and I refuse to swallow it whole. If the hired prophets of mass media really could predict the market, they'd all be retired billionaires. Instead they are scrabbling desperately to come up with headlines, so they can keep their stupid jobs.
I think about it too, and laugh. Anyone who could figure out cause and effect could therefore predict the markets. Such a person would be a billionaire recluse and would be insane to share his/her insights. I don't think that anybody fits into that category.