Investing.com - The global stock rally finally showed signs of slowing on Thursday, pulling back from their recent record highs, as euphoric investors turned cautious amid growing fears of an impending market correction.
On Wall Street, U.S. stocks slumped after posting a trio of all-time highs and closing above the psychologically important level of 23,000 for the Dow on Wednesday.
Meanwhile, in Europe, Germany’s DAX 30 index slumped 0.8%, pulling back from Wednesday’s all-time closing high.
Earlier, Asian-Pacific equities fell from their highest level since late 2007.
Political tensions in Europe, lackluster economic reports out of China, and the anniversary of the 1987 Wall Street market crash were cited as some of the reasons for uneasiness.
Despite the recent slow-motion melt-up in global equities, investors remained wary of a long-overdue pullback.
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