Challenging time for equity markets; all eyes on US, China economic data

Is the equity market headed towards a correction? This is the question investors may be pondering as Wall Street continued to struggle through turbulence, with its three main indexes pulling back by an average of 2 per cent over the past week.

The Dow Jones index ended last Friday at 34,607.72, down 761.37 points for the week. The broader S&P 500 gave up 79.43 points to end at 4,458.58, while the tech-heavy Nasdaq surrendered 248.03 points for the week at 15,115.49.

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